Brigantine Advisors Reiterates a 'Buy' on NetScout (NTCT); Solid Market Position
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Brigantine Advisors reiterates a 'Buy' on NetScout (Nasdaq: NTCT), raises price target from $12.30 to $15.
Brigantine analyst says, "CA, Inc (NYSE: CA) recently announced that it has agreed to buy network management software provider and NetScout competitor NetQos for $200M in cash...We believe NetScout is well positioned in the packet flow/packet analytics market. The virtualization of the server, storage, and network components of an enterprise creates further demand for the company's capabilities. Based on acquisition multiple by CA, the company’s strong product suite, and its solid market position we are raising our 12-month price target to $15.00 and reiterate our Buy rating on NetScout shares. Our price target is based on a PEG ratio of 1.2 (was 1.0x) assuming a 15% growth rate, and a C2010 EPS estimate of $0.82."
Additional note: NetScout will replace Bankrate Inc. (RATE) in the S&P SmallCap 600 after the close of trading on Wednesday, September 23. Apax Partners is acquiring Bankrate in a deal expected to be completed on or about that date.
To see more analyst ratings on NTCT Click Here.
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