UBS Adjusts Outlook on Brocade (BRCD) After Mixed Q2 Results
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Price: $5.54 -3.48%
Rating Summary:
3 Buy, 17 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 17 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade BRCD Now!
UBS maintains a 'Neutral' on Brocade (NASDAQ: BRCD) price target lowered from $6.00 to $5.25.
Analyst, Nikos Theodosopoulos, said, "2Q sales and EPS ahead, Ethernet was weak, Storage was better...We lower our Data Storage fcst to incorporate more challenging 3Q sequential seasonality, but still a strong improvement vs. last year plagued by OEM inventory absorption. Indeed, the reversal of dynamics also likely helped BRCD experience the strongest Data Storage growth since FY08 this year. Our lower CY12 and CY13 sales and EPS estimates are now $2.18B (+1%) and $0.54 and $2.26B (+4%) and $0.57 versus our prior $2.23B and $0.55 and $2.35B and $0.58."
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 $4.94 yesterday, with a 52 week range of $3.18-$7.30.
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Analyst, Nikos Theodosopoulos, said, "2Q sales and EPS ahead, Ethernet was weak, Storage was better...We lower our Data Storage fcst to incorporate more challenging 3Q sequential seasonality, but still a strong improvement vs. last year plagued by OEM inventory absorption. Indeed, the reversal of dynamics also likely helped BRCD experience the strongest Data Storage growth since FY08 this year. Our lower CY12 and CY13 sales and EPS estimates are now $2.18B (+1%) and $0.54 and $2.26B (+4%) and $0.57 versus our prior $2.23B and $0.55 and $2.35B and $0.58."
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 $4.94 yesterday, with a 52 week range of $3.18-$7.30.
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