Wedbush Upgrades Aruba Networks (ARUN) to Outperform; Pullback Offers Chance To Own One of Fastest Growing Names in Tech
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Price: $24.67 --0%
Rating Summary:
10 Buy, 19 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 19 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush upgraded Aruba Networks (NASDAQ: ARUN) from Neutral to Outperform. PT $30.
Wedbush analyst said, "Our upgrade is based on our view that the recent price decline provides investors with a favorable risk-adjusted return to our target. Since the company reported its FQ3 results, the stock has pulled back ~22% and is down ~30% from recent highs (the S&P and NASDAQ have been down -5% and -7%, respectively). We think the recent decline is primarily a result of margin pressure (which we now believe is more than adequately reflected in the stock) and a conservative guide. We see 3 main reasons for investors to own the stock now: (1) we think continued share gains and strong growth should position the company as the sector leader; (2) we expect margin stabilization as company is likely to continue to exceed estimates; (3) we view valuation as more compelling relative to other leaders in the space."
For more ratings news on Aruba Networks click here and for the rating history of Aruba Networks click here.
Shares of Aruba Networks closed at $25.48 yesterday.
Wedbush analyst said, "Our upgrade is based on our view that the recent price decline provides investors with a favorable risk-adjusted return to our target. Since the company reported its FQ3 results, the stock has pulled back ~22% and is down ~30% from recent highs (the S&P and NASDAQ have been down -5% and -7%, respectively). We think the recent decline is primarily a result of margin pressure (which we now believe is more than adequately reflected in the stock) and a conservative guide. We see 3 main reasons for investors to own the stock now: (1) we think continued share gains and strong growth should position the company as the sector leader; (2) we expect margin stabilization as company is likely to continue to exceed estimates; (3) we view valuation as more compelling relative to other leaders in the space."
For more ratings news on Aruba Networks click here and for the rating history of Aruba Networks click here.
Shares of Aruba Networks closed at $25.48 yesterday.
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