Market Overview

UPDATE: Cantor Fitzgerald Initiates Hold, $6.50 on Brocade Communications

Cantor Fitzgerald initiates its coverage on Brocade Communications (NASDAQ: BRCD) with a Hold rating and a price target of $6.50 on ethernet transition clouds visibility.

Cantor Fitzgerald comments, "Although we expect storage to out-perform in the coming year, we do not share the same confidence with the Ethernet business. This leaves us with insufficient basis to assume material estimate or multiple expansion at this time. We expect the company will reclaim share in storage, on the back of the 16Gb transition leadership and lack of inventory overhang. Within Ethernet, stiffening service provider comparisons, questionable Federal budgets, and enterprise channel transition dampen our conviction that the company will grow at multiples of the market."

BRCD closed at $5.46 a share on Tuesday.

Posted-In: Cantor FitzgeraldAnalyst Color Price Target Initiation Intraday Update Analyst Ratings

 

Most Popular

Related Articles (BRCD)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters