Goldman Sachs Downgrades Aruba Networks (ARUN) to Neutral, Moving to the Sidelines

Article Stock Quotes (1) Comments (0)

Goldman Sachs downgraded Aruba Networks (NASDAQ: ARUN) from Buy to Neutral but lifted its price target from $20 to $23.

The firm sees EPS only in-line with consensus as they expect ongoing investment in the business to keep operating margins range-bound.

"While we think further multiple expansion is warranted from current levels, given recent WiFi datapoints confirm our above-consensus estimates for the October/January quarters, our new $23 12-month price target leaves limited upside following share appreciation of 63% (vs. S&P 500 +4%) since the August low."

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 $21.51 yesterday, with a 52 week range of $12.36-$25.55.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Lazard Cuts PT on Aruba (ARUN) to $18; Cisco Pressure Lingers, But Fundamentals Solid
• UPDATE: Vanda Pharmaceuticals (VNDA) Opens Higher; Lazard Raises PT to $17
• Baird Downgrades Brocade (BRCD) to Neutral

Create E-mail Alert Related Categories

Analyst PT Change, Downgrades

Related Entities

Goldman Sachs, Standard & Poor's

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?