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UPDATE: Morgan Stanley Reiterates on QLogic Following Ethernet Deal

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UPDATE: Barclays Downgrades QLogic

In a report published Wednesday, Morgan Stanley analyst Katy L. Huberty reiterated an Underweight rating on QLogic (NASDAQ: QLGC), but removed the $10.50 price target.

In the report, Morgan Stanley noted, “QLogic's acquisition of Broadcom's Ethernet business gives it access to higher growth market with exposure to cloud data centers and begins to transform the company into an I/O platform play rather than just a connectivity supplier. The deal is expected to be EPS accretive to both QLogic and Broadcom.”

QLogic closed on Tuesday at $11.45.

Latest Ratings for QLGC

DateFirmActionFromTo
Aug 2014BarclaysDowngradesOverweightEqual-weight
Jul 2014BarclaysMaintainsOverweight
Jul 2014Morgan StanleyUpgradesUnderweightEqual-weight

View More Analyst Ratings for QLGC
View the Latest Analyst Ratings

Posted-In: Katy L. Huberty Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

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