Benchmark Reiterates Buy Rating on Manhattan Associates

Benchmark has published a report on Manhattan Associates MANH reiterating their current estimates and the BUY rating. In the report, Benchmark wrote, "
We are reiterating our Buy rating on MANH after last night's solid 2Q11 results, where the Company beat our Street high $0.48 EPS estimate by $0.17 and beat our forecasts for license revenue and total revenue. Management raised its full year revenue outlook and was more upbeat than usual about customers' outlooks for starting new projects in general and deal closure rates in particular. Our price target goes to $40 from $37." Benchmark rated Manhattan Associates a BUY with a price target of $40.00. Manhattan Associates closed Tuesday at $34.81.