Baird Upgrades Brocade (BRCD) to Neutral Following Takeover Deal
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Baird upgraded Brocade (NASDAQ: BRCD) from Underperform to Neutral with a price target of $13.00 (from $9.00) after the company agreed to be acquired by by Broadcom for $12.75/share.
"We do not expect a strategic bidder to attempt to counter the Broadcom offer," analyst Jayson Noland said.
Shares of Brocade closed at $11.24 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Upgrades
Related EntitiesRobert W Baird, Jayson Noland
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