MARKET TALK: Canaccord Adams Upgrades Micro Focus To Buy

2nd Jul 2010 10:23

0923 GMT [Dow Jones] Canaccord Adams upgrades Micro Focus International (MCRO.LN) to buy from hold. The share price has dropped by 20% since Micro Focus announced the resignation of its chief financial officer. But the market is over-reacting, says Canaccord. It expects the shares to bounce back as the company releases solid results. It expects Micro Focus to attract a strong replacement for the CFO role. Cuts the share price to 510p from 540p. Shares +2.0% at 418.8p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 02, 2010 05:23 ET (09:23 GMT)

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