BRCD – Buy On Weakness
Analysts at Oppenheimer & Co maintain their "outperform" rating on Brocade Communications (NASDAQ: BRCD). The target price for BRCD is set to $8.50.
According to Oppenheimer & Co, investor concerns regarding Brocade Communications losing its market share are overblown. “While we see potential for near-term share losses for Brocade, there is no evidence of a material change in its competitive position,” the analysts say.
“Our January-quarter channel checks suggest sales are tracking in-line with expectations, with pipeline activity supporting in-line to limited upside in the April quarter,” the analysts mention. “With a highly compelling valuation/cash flow, we're buyers on weakness,” the analysts add.
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