Kaufman Bros. Starts Brocade (BRCD) at Hold; Long-Term Leader, Near-Term Muted

Kaufman Bros. initiates coverage on Brocade (NASDAQ: BRCD) with a Hold. PT $6.00.

Kaufman analyst says, "While longer term we are positive on BRCD shares given its leadership position in the storage area network (SAN) space and its competitive position in emerging convergence trends in Ethernet, we recommend that investors be patient with the stock based on our somewhat muted near-term outlook. In addition, we anticipate a pause in BRCD's impressive strides in growing revenue, margin expansion and most importantly free cash flow generation over the last six quarters."

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 $5.72 yesterday, with a 52 week range of $3.18-$7.30.

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