Oppenheimer Maintains a 'Perform' on Brocade (BRCD); Solid Qtr, But Still A Wait-and-See Stock
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Price: $5.67 --0%
Rating Summary:
4 Buy, 16 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Rating Summary:
4 Buy, 16 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Trade BRCD Now!
Oppenheimer maintains a 'Perform' on Brocade (NASDAQ: BRCD).
Analyst, Ittai Kidron, said, "Brocade delivered a strong July quarter with revenue and EPS ahead of consensus. Solid progress in Ethernet switching is encouraging as evidenced by progress in both the enterprise and federal verticals (up 2% and 39% YoY), although storage switching came in slightly below targets. We still expect EPS growth in FY2013 to slow and suspect margins have peaked as a strong year in FC switching comes to an end. Management has become more aggressive with its cash and share repurchases/debt reduction which could add upside potential. Overall, we are more positive but would like to see steady execution. Furthermore, the CEO's resignation could be distracting near-term."
FY12 EPS estimate raised from $0.61 to $0.64 and FY13 from $0.62 to $0.69.
For an analyst ratings summary and ratings history on Brocade click here. For more ratings news on Brocade click here.
Shares of Brocade closed at $5.63 yesterday, with a 52 week range of $3.31-$6.17.
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Analyst, Ittai Kidron, said, "Brocade delivered a strong July quarter with revenue and EPS ahead of consensus. Solid progress in Ethernet switching is encouraging as evidenced by progress in both the enterprise and federal verticals (up 2% and 39% YoY), although storage switching came in slightly below targets. We still expect EPS growth in FY2013 to slow and suspect margins have peaked as a strong year in FC switching comes to an end. Management has become more aggressive with its cash and share repurchases/debt reduction which could add upside potential. Overall, we are more positive but would like to see steady execution. Furthermore, the CEO's resignation could be distracting near-term."
FY12 EPS estimate raised from $0.61 to $0.64 and FY13 from $0.62 to $0.69.
For an analyst ratings summary and ratings history on Brocade click here. For more ratings news on Brocade click here.
Shares of Brocade closed at $5.63 yesterday, with a 52 week range of $3.31-$6.17.
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