UPDATE: Jefferies Raises PT to $60 on MICROS Systems

Jefferies reiterates its Buy rating on MICROS Systems MCRS and raises its price target to $60 from $58 following the company's most recent 10-Q filing. Jefferies comments, "We have updated our model to include the Balance Sheet and Cash Flow breakout provided in MCRS' F2Q12 10-Q but have left our EPS forecasts unchanged. Commentary around F2Q12 results was broadly consistent with mgmt's discussion on the EPS call, though the filing mentioned a top-line benefit from international companies acquired LTM (no additional detail)." MCRS closed at $52.13 a share on Friday.