American Software: Falls after B. Riley FBR downgrade

Logility Supply Chain Solutions

28/08/2018 16:03

** Software services provider's  AMSWA.O  shares down 4 pct
at $18.14 after B. Riley FBR downgrades co to "neutral" from
"buy"
    ** Analyst Kevin Liu says downgrade based on on valuation,
as the stock is trading above its $18 price target
    ** Co is due to report its Q1 results on September 4 
    ** Liu says remains bullish on AMSWA's long-term prospects
and near-term estimates are unlikely to move much higher post Q1
results
    ** "AMSWA's ongoing transition to the cloud and seasonal
softness typical of 1Q, we model a sequential and Y/Y decline in
license fees, which de-risks expectations for the quarter to an
extent," brokerage says
    ** Including session's declines, AMSWA up 55.5 pct this year

 (Reporting By Geetha Panchaksharam)
 ((geetha.panchaksharam@thomsonreuters.com))