Piper Jaffray Boosts Price Target on Brocade Comm (BRCD) to $10
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Piper Jaffray raised its price target on Brocade Communications (Nasdaq: BRCD) from $8 to $10, maintaining their Buy rating, saying the pipeline is ripe with opportunities.
Analyst Troy D. Jensen said, "... the company has a number of catalysts lined up, including new OEM agreements and revenue/cost synergies from the Foundry acquisition, which could provide further upside to our estimates. We are increasing our gross margin assumptions today and believe Brocade is well positioned for long-term growth."
For more analyst ratings on BRCD click here.
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