UPDATE: Wedbush Raises PT to $28 on Aruba Networks on Analyst Day Takeaways

Wedbush maintained Aruba Networks ARUN with an Outperform rating and raised the price target from $26.00 to $28.00. Wedbush analyst Rohit Chopra noted, "We maintain our OUTPERFORM rating as new software platforms, the controller upgrade opportunity and 802.11ac ratification are key growth drivers which should drive share gains over the next 12-18 months, despite weak IT spending and macro headwinds. While we are concerned about the impact of competition and a muted spending environment, we believe secular trends outweigh NT concerns. In our view, long-term investors seeking strong execution and a secular growth story should own the name." Aruba Networks closed at $25.27 on Monday.