Wells Fargo Starts Aruba Networks (ARUN) at Outperform as Enterprise Mobility Tops IT Priority List

October 2, 2012 9:43 AM EDT
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Price: $24.67 --0%

Rating Summary:
    14 Buy, 20 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Wells Fargo initiates coverage on Aruba Networks (NASDAQ: ARUN) with a Outperform rating and price target of $25 to $27.

"Our positive view is based on Aruba's technology leadership in the $3B wireless LAN market, which is expected to grow at least 15-20% over the next few years, fueled by BYOD, the ability to 'right size' wired environments using Wi-Fi solutions, and the upgrade to higher speed 802.11 technology," said analyst Jess Lubert.

"While the macro and competition present near-term risks, we view enterprise mobility as a top IT priority and believe Aruba's superior security and management software should position the company to gain share," added Lubert.

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 $22.38 yesterday.

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