UPDATE: Deutsche Bank Reiterates on Aruba Networks Following FYQ1 Revenue Report

In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on

, and raised the price target from $16.00 to $17.00. In the report, Deutsche Bank noted, “Aruba reported FYQ1 revenues of $161m, above our estimate and consensus of $158m. Pro-forma EPS of $0.16 was above our estimate and consensus $0.14. The company guided Q2 revenue to be $165m - $169m, versus our estimate and consensus of $167m. They expect pro-forma EPS of $0.16 to $0.17 touching our estimate and consensus, of $0.16. While we are encouraged by the good print, we remain on the sidelines until we see consistent execution and a top-line growth rate at least in-line with management's suggested competitive win rate.” Aruba Networks closed on Thursday at $17.21.