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UPDATE: JP Morgan Initiates Aruba Networks at Neutral on Competition Concerns

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JP Morgan initiated coverage on Aruba Networks (NASDAQ: ARUN) with a Neutral rating and a $21 price target.

JP Morgan noted, "Our bias on this company is positive, though we believe that consensus estimates are currently fair given the potential for weaker 2013 enterprise spending. We like the fact that gross margins continue to improve and believe that products like ClearPass and Instant could help this trend to continue. However, WLAN competition remains fierce and the company is trading near its recent P/E multiple high. We would advise investors to keep this one on the shopping list and wait for a better entry point."

Aruba Networks closed at $20.79 on Monday.

Latest Ratings for ARUN

Nov 2014Imperial CapitalMaintainsOutperform
Nov 2014JP MorganMaintainsNeutral
Nov 2014Bank of AmericaDowngradesNeutralUnderperform

View More Analyst Ratings for ARUN
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Initiation Pre-Market Outlook Analyst Ratings


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