Analyst Says Thoma Bravo Bid for Brocade (BRCD) Now More Likely Following Dell, SonicWALL Deal

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Traders may be paying close attention to a note by FBN Securities' Shebly Seyrafi related to Dell's (Nasdaq: DELL) purchase of SonicWALL from Thoma Bravo early Tuesday morning. Seyrafi believes a Thoma Bravo bid for none other than Brocade (Nasdaq: BRCD) may now be more likely given increased capital levels.

Brocade shares are up nearly 2 percent Tuesday afternoon.

Seyrafi also pointed out a deal between Dell and SonicWALL should be a negative for Fortinet (Nasdaq: FTNT) as the acquisition allows Dell to move into a solid position within the next-gen firewall market.

The FBN analyst maintains a Sector Perform rating and $6.50 price target on shares of Brocade.

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