Oppenheimer's Highlights From BMC Analyst Day

Oppenheimer has published a research report on BMC Software (NASDAQ: BMC) after attending the company's analyst day.

In the report, Oppenheimer writes "During BMC's 2010 Analyst Day (12/14), key discussion points included the momentum behind cloud computing, the growing strength of ESM, and the formation of key strategic partnerships. BMC highlighted alliances with CSCO, ACN and CRM, and pointed out that ESM will eventually contribute the majority of BMC's revenue and profits. BMC delivered a strong 1H11 performance, and longer term, management expects rising revenue and improving operating margins. We believe BMC is well positioned to benefit from key trends (including cloud computing, virtualization and SaaS), and we reiterate our Outperform rating."

Oppenheimer maintains its Outperform rating and $52 price target.

BMC Software closed yesterday at $47.58.