Baird Upgrades Brocade (BRCD) to Neutral Following Takeover Deal
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Ciena (CIEN) to $30 Following 4Q
- Stifel Reiterates Buy on Casella Waste Systems (CWST) - PT to $16
- Jefferies Downgrades SL Green Realty (SLG) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Upgrades
Related EntitiesRobert W Baird, Jayson Noland
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!