Kaufman Starts Emulex (ELX) at Buy, Sets $12 Price Target

Kaufman's Brian Hynes initiated coverage on shares of Emulex (NYSE: ELX) Friday afternoon following the company's Q2 report on Thursday. Shares are currently up a sharp 14 percent.

The analyst said his bullish view on the company can be attributed to "its position in host bus adapter products to the storage area network market along with the opportunity to take advantage of Intel's Romley server launch with its 10G LAN on motherboard silicon (LOM) design."

Hynes' new price target represents potential upside of about 14 percent from where the stock is trading Friday.

For an analyst ratings summary and ratings history on Emulex click here. For more ratings news on Emulex click here.

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