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

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10 Notable Stocks Trading Ex-Dividend Wednesday, September 7
Brocade's Post-Earnings Selloff May Have Provided An Entry Point

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.

Latest Ratings for BRCD

DateFirmActionFromTo
Sep 2016CitigroupMaintainsNeutral
Sep 2016CitigroupMaintainsNeutral
Aug 2016UBSMaintainsSell

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

 

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