Recently, Beacon Equity Research updated its research on Avatar Systems, Inc. (AVSY.OB) reiterating its “Outperform” rating and raising its Target price to $2.75.
The full report is available at http://www.BeaconEquityResearch.com
In the report, the analyst writes, “Avatar Systems, Inc. provides enterprise resource solution software to the oil and gas industry.
The Company is poised to benefit from increased IT spending by the oil and gas industry and is leveraging its opportunities through acquisitions, new products and services and an expanded customer base.
Avatar produced 60%+ revenue growth and 80%+ earnings growth in 2006 and we expect the Company to report another year of high double-digit growth in 2007.
As a result, we are reiterating our Outperform rating and increasing our price target to $2.75, which is based on a one PEG (Price/Earnings Growth) ratio.”
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