UPDATE: Jefferies Lowers PT on MICROS Systems to $50

Jefferies is out with its report today on MICROS Systems MCRS, lowering its PT to $50 from $58. In its report, Jefferies writes, "MCRS beat F4Q11 Street EPS by 18% driven primarily by higher GM and lower opex. Mgmt guided in-line with consensus, which implies around 10% rev growth and 30-40bp of margin improvement. If the macro doesn't take a turn for the worse, we think the company could do better. We retain our BUY but lower the PT to $50." Shares of MCRS closed Thursday at $41.02, down 2.54% from Wednesday's close.