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NEW YORK (AP) - Shares of BMC Software Inc. hit a 52-week high Friday after the business software maker posted a 55 percent jump in fiscal fourth-quarter profit and said it expects a jump in fiscal 2009 profit, which led analysts to raise price targets.
| BMC | 36.01 |  -0.02 |
The stock gained $1.91, or 5.2 percent, to $38.34 after hitting the $38.65 high following the opening bell.
Lehman Brothers analyst Israel Hernandez raised his price target on the Houston-based company to $43 from $40, implying he expects the stock to rise 18 percent over Thursday's $36.43 close. He rates shares "Overweight."
"While macroeconomic conditions will present an increasing challenge for BMC and all software companies over the next several quarters, we believe BMC's service and data center automation solutions remain well-positioned for a slower growth environment," Hernandez said in a note to clients.
Oppenheimer & Co. analyst Brian Denyeau also boosted his price target to $43 from $40, and kept an "Outperform" rating.
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