Oppenheimer Raises Price Target On BMC Software To $57.00 From $52.00 (BMC)

According to Oppenheimer, after another solid quarter, they are increasing the price target on BMC Software BMC to $57.00 from $52.00. In the report, Oppenheimer said, "BMC delivered another solid quarter, closing out FY11 with strong metrics across its business lines. Encouragingly, the company saw broad-based demand, with ESM strength benefiting from a revitalized sales organization and MSM achieving competitive replacement wins." Oppenheimer closed yesterday at $49.07.