Needham & Company Lifts PT on Aruba Networks (ARUN) on ClearPass Bullishness

March 28, 2013 8:17 AM EDT
Get Alerts ARUN Hot Sheet
Price: $24.67 --0%

Rating Summary:
    14 Buy, 20 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 32 | New: 34
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Needham & Company raised its price target on Buy-rated Aruba Networks (NASDAQ: ARUN) from $25 to $27 following a bullish analyst day.

"High-end enterprise/managed service provider Wi-Fi remains one of the most attractive growth areas in comm. equipment, and Aruba, with growing momentum behind its high-margin, strategic ClearPass products, remains the most attractive pure play in the space, in our opinion," analyst explains. "At Aruba's Analyst Day yesterday, while the company didn't break a lot of new ground, it reinforced the strength of the ClearPass pipeline and product cycle, which we see as key to driving a reacceleration of the company’s top line, and at least maintaining its industry-leading margins."

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

Shares of Aruba Networks closed at $25.43 yesterday.

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