We are extending our estimates through 2012 fiscal year for Buy-rated OPNET Technologies (OPNT: 13.84 0.00 0.00%). OPNET reported very good third quarter results due to strong new software license revenue.
Gross profit margins were well above expectations. We expect gains in market share to continue. Continued cost controls and the booking of deferred revenue should improve earnings.
Software license growth should have a positive impact on near-term revenue. We maintain our Outperform rating and increased our target price to $14.50.
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