div style=”text-align: justify;”Keybanc is out with a pretty big call on span style=”font-weight: bold;”EPIQ Systems (NASDAQ:EPIQ) /spanupgrading the shares to Buy from Hold with a $17 tgt.br /br /According to the firm the upgrade is based on recent data suggesting that momentum in EPIQ’s bankruptcy segment could create meaningful revenue and EPS upside in the 2Q and 2009.br /br /Last week, the span style=”font-weight: bold;”firm noted that EPIQ won the Chrysler bankruptcy (Chapter 11) engagement/span, which was confirmed on the Company’s web site. Moreover, data from U.S. courts indicates bankruptcy filings increased more than 60% year-over-year in the 4Q (December); they expect March quarter data to be available by the end of May. span style=”font-weight: bold;”At an investor conference earlier today, CEO Tom Olofson commented that EPIQ has seen its Chapter 11 business “more than double” year-to-date, accelerating every month so far in 2009 up to 149% year-over-year growth in April/span. Firm believes strong bankruptcy momentum is sustainable for many quarters or years, as historical data suggests filings can continue to increase even after a recovery begins, and bankruptcy cases can take many years to complete.br /br /Keybanc is raising their 2009/2010 EPS estimates while noting they think span style=”font-weight: bold;”meaningful upside to their estimates is possible./spanbr /br /EPIQ’s bankruptcy business appears to be growing faster than Keybanc previously forecast. Their checks and recent management commentary give them a more bullish outlook for EPIQ’s bankruptcy business. EPIQ has been retained on 7 of the 10 largest Chapter 11 engagements of 2009, including the Chrysler and Thornburg Mortgage cases, which are the two largest restructurings of 2009.br /br /span style=”color: rgb(255, 0, 0);”Notablecalls:/span This call will likely generate some serious upside in EPIQ stock today and in the coming days. ‘Meaningful upside to estimates is possible’ is 6 words investors want to hear.br /br /Thin name, though./divdiv class=”blogger-post-footer”img width=’1′ height=’1′ src=’//blogger.googleusercontent.com/tracker/29297569-7559820717104026518?l=notablecalls.blogspot.com’//div

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