Brean, Murray Calls Xyratex (XRTX) A Buy, Shares Up 5%

By Daniel James Hayden IV
May 13, 2010 2:19 PM

Symbols: XRTX

Tags: Ananda Baruah, Brean, Carret & Co., Murray

Posted in: Analyst Color, Analyst Ratings, Movers

Brean, Murray, Carret & Co. analyst Ananda Baruah reiterated a Buy rating for shares of Xyratex Ltd. (NASDAQ: XRTX), with a price target of $24 per share.

Baruah recommended buying aggressively during unwarranted sell-offs of Xyratex Ltd. stock.

The analyst noted that shares of Xyratex Ltd. have fallen for non-fundamental reasons twice since the company reported strong results and issued surprisingly strong guidance in February.

Shares of Xyratex Ltd. were up 5% at $16.25 in afternoon trading.

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