UPDATE: UBS Upgrades Aruba Networks, Shares Rise

Following Tuesday's earnings report, analysts at UBS upgraded Aruba Networks ARUN from Neutral to Buy and raised the price target from $21 to $25.

Shares were up 7.9 percent at $21.84 in the pre-market session.

Since making a low of $17.49 on August 4, Aruba Networks has rallied sharply, trading higher in 15 out of the last 16 days, gaining nearly 25 percent.