Infoblox (BLOX) PT Raised to $24 at Needham & Company

Needham & Company analyst Alex Henderson reiterated a Buy rating and boosted his price target on Infoblox (NYSE: BLOX) to $24.00 (from $21.00).

Henderson commented, "We are raising our Price Target on BLOX to $24 from $21 based on our belief that they are having another improving quarter and likely will be able to beat CY4Q estimates. In addition, we like the positioning of the company in virtualization automation and SDN. Security is opening doors for Infoblox and helping get the company into more new customers. In addition, its domestic centric orientation leaves it well positioned for stronger US growth with low exposure to weak international markets and Telecom spending pressures."

For an analyst ratings summary and ratings history on Infoblox click here. For more ratings news on Infoblox click here.

Shares of Infoblox closed at $19.35 yesterday.

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