Oppenheimer Reiterates Outperform on CSG Systems International (CSGS)

Oppenheimer is out with its report today on CSG Systems International CSGS, reiterating Outperform. In a note to clients, Oppenheimer writes, "CSGS is targeting at least 10% growth in revenue, EBITDA and pro forma EPS. Consistent execution, high revenue visibility, operational scale, strong cash flow, and a strong balance sheet make CSGS an attractive investment candidate, especially during times of elevated market volatility. CSGS is trading at 8x our FY12E EPS of $2.50, and should command a higher multiple, in our view. Our $28 target is based on 11x our FY12E EPS, and we reiterate our Outperform rating." Shares of CSGS closed Thursday at $19.30, up 1.85% from Wednesday's close.