According to a research report published this morning, Brean Murray Carret & Co. has lowered Xyratex's XRTX PT from $20 to $16.
In the report, Brean Murray Carret & Co. commented, "Another strong quarter with EPS at $0.32, vs. our estimate of $0.26, primarily driven by stronger gross margins (16.7% vs 15.4% estimated). Revenue came in slightly lower than expected ($322 mln vs. $331 mln), as weakness in Enterprise Storage Solutions demand weighed down the strength in the 3.5 inch market, as well as continued capex growth (i.e. replacement orders for WD (WDC $30.68, Buy) post‐flood)."
Brean Murray Carret & Co. maintains its Buy rating on Xyratex, which closed yesterday at $11.72.
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