Morgan Stanley Sees Brocade Communications Systems As On-Track to Hit Annual Guidance
In a report published Friday, Morgan Stanley analyst Scott Schmitz reiterated an Equal-Weight rating on Brocade Communications Systems (NASDAQ: BRCD).
In the report, Morgan Stanley noted, “Improved execution, restructuring benefits, and a more focused go-to-market strategy offset secular pressure in the SAN business. The Ethernet business takes share in the data center market, but Federal exposure creates volatility. BRCD trades in-line with enterprise peers that face similar secular growth headwinds, while balance sheet improvements and stable cash generation offer downside protection.”
Brocade Communications Systems closed on Friday at $9.43.
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