UPDATE: Wedbush Initiates Coverage on NICE Systems Ltd. with Outperform Rating, $47 PT on Favorable Risk/Reward

In a report published Friday, Wedbush analyst Shyam Patil initiated coverage on

with an Outperform rating and $47.00 price target. In the report, Wedbush noted, “We believe the risk/reward is favorable for NICE. NICE is a stable revenue grower with continued margin expansion potential, has strong FCF dynamics, and has a buyback and dividend in place, all of which we believe limit downside. In terms of upside, we believe revenue growth should accelerate next year as strong 2013 bookings flow to revenue and growth should remain in the double-digits for several years as the company executes on its advanced analytics strategy.” NICE Systems Ltd. closed on Thursday at $40.62.