Brean Murray Likes Xyratex (XRTX)

Brean Murray Carret & Co. is out with a research report on Xyratex Ltd. (NASDAQ: XRTX), and is saying that it would be a buyer of shares. It has a $24 price target on shares.

In a note sent to clients, Brean Murray writes, "We'd pick up shares of both Xyratex & EFI after what we believe are particularly exaggerated sell-offs (XRTX off 15% since 11/11, EFI off 13% since 11/5, vs. S&P 500 off 4% since 11/5). In fact, we'd suggest, if anything, that the company specific read-throughs we've seen the last few weeks are incrementally bullish for each name, or, worst case, absolutely supportive of our current theses."

Shares of XRTX lost $1.24 yesterday to close at $14.52, a loss of nearly 8%.