UPDATE: Pacific Crest Raises PT on Aruba Networks on Multiple Positive Factors

In a report published Wednesday, Pacific Crest Securities analyst Brent Bracelin reiterated an Outperform rating on

, and raised the price target from $20.00 to $21.00. In the report, Pacific Crest Securities noted, “Missteps and competition have sent ARUN down 17% YTD. It now looks undervalued, especially if new cloud products, healthy Wi-Fi demand and the Brocade deal send y/y growth back to 20% or more. Buy ARUN with 21% upside to $21.” Aruba Networks closed on Tuesday at $17.42.