UPDATE: Morgan Stanley Initiates Coverage on Aruba Networks with Equal-Weight Rating
In a report published Wednesday, Morgan Stanley initiated coverage on Aruba Networks (NASDAQ: ARUN) with an Equal-Weight rating.
Morgan Stanley noted, “Initiating on ARUN with an EW rating but a positive bias as we believe the company sits between the 802.11n product cycle of '09-'11 and the Bring Your Own Device- driven 802.11ac upgrade cycle starting late '13. Together with weak US enterprise spending overall, we are cautious near term.”
Aruba Networks closed on Tuesday at $19.48.
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