UBS Maintains a 'Buy' on Aruba Networks (ARUN); Q3 Preview; Trimming Q4 & PT

May 16, 2012 11:45 AM EDT Send to a Friend
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Price: $19.26 +1.85%

Rating Summary:
    20 Buy, 13 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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UBS maintains a 'Buy' on Aruba Networks (NASDAQ: ARUN) price target lowered from $26 to $24.50.

Analyst, Jack Monti, said, "We expect inline 3Q results post close on Thurs May 17 vs. our sales/ EPS estimates of $132M (+25%)/ $0.16 ex options...Although our checks for Aruba remain broadly positive enterprise exposure has underperformed. Aruba’s exposure is likely more favorable vs. peers with less revs from financial/ retail, and gov exposure more levered to US DoD, but mixed lateral data points, as we first wrote about on 4/25 and 4/27, lead us to be more cautious. We now estimate 4Q sales and EPS to $138M (+21%) and $0.16 vs. Street consensus of $140M and $0.18. Our FY13 growth/ EPS forecast remains ~22%/ $0.78."

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 $15.95 yesterday.


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