Compuware Hopeful; Stay Cautious

Compuware Corporation (CPWR - Analyst Report) provides software products and professional services to many of the largest users of information systems in the world. The company employs over 7,500 professionals across the globe, with 99 offices in 31 countries, and serves more than 70% of the Fortune 500 companies.

Compuware continues to transform its business and expects that restructuring activities undertaken in fiscal 2008 will reduce operating costs by approimately $100 million on an annualized basis. In the first half of fiscal 2009 (ended September), CPWR identified new annualized reductions of $55 million and are targeting $80 million for 2009.

Management remains optimistic that it will achieve the financial guidance it had set for FY:09. We continue to rate the stock a Hold with a target price of $6.25.

Read the full analyst report on CPWR

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