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 Aruba Networks (NASDAQ: ARUN), 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.
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