MARKET TALK: Micro Focus FY Overshadowed By CFO Departure

24th Jun 2010 10:24

0924 GMT [Dow Jones] Micro Focus's (MCRO.LN) solid FY results will be overshadowed by CFO Nick Bray's resignation, UBS says. "While not a complete surprise (as he was not made CEO), it is a negative given his strong stewardship of MF interregnum and the fact CEO Clifford only started on 1 May," broker says. UBS thinks Micro Focus "may have had some concerns here and hope for an early announcement" within the next three to four months. UBS retains a buy rating on Micro Focus and 570p price target. Shares -12.2% at 463p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 24, 2010 05:24 ET (09:24 GMT)