StockMarketWire.com - N+1 Singer has upgraded its recommendation on software specialist Craneware [LON:CRW] to ‘buy’ from ‘hold’, following the recent share price weakness and despite describing the company’s latest set of results as “relatively uninspiringâ€.

However, the broker highlighted the record order intake of $71.0 million as being of particular note.

N+1 said: “The increase in the value of contracts signed in the year is clearly a major step forwards and should at the very least underpin medium term expectations for the Group.â€

Target price left unchanged at 590 pence a share.

Separately, Investec reaffirmed its ‘buy’ stock rating (target left unchanged at 645 pence a share) in a note to investors.

“Overall, the results are supportive of an underlying recovery underway, but taking time to feed through to the annuity revenue model,†Investec said.



At 10:56am: [LON:CRW] Craneware PLC share price was +2.5p at 520p



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