Market Overview

UPDATE: Goldman Sachs Raises PT to $4.40 on Brocade Communications Systems; Solid FQ2

Related BRCD
Top 4 NASDAQ Stocks In The Data Storage Devices Industry With The Highest Dividend Yield
Top 4 NASDAQ Stocks In The Data Storage Devices Industry With The Highest Gross Margin

Goldman Sachs raises its price target on Brocade Communications Systems (NASDAQ: BRCD) from $4.20 to $4.40 as it reiterates shares at Sell.

Goldman Sachs says, "Brocade reported strong data storage (SAN) revenue, above GS and the Street, but disappointing IP revenue on weakness in the enterprise and federal verticals. The IP segment struggled for the second quarter as it works through a channel distribution transition. …We are raising our 12-month price target to $4.40 from $4.20, which is based on 8.5X our CY2013E non-GAAP EPS of $0.52 (prior CY12 of $0.50) on stronger data storage (SAN) revenue growth."

BRCD closed at $4.94 on Thursday.

Posted-In: Goldman SachsAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

Most Popular

Related Articles (BRCD)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free