Needham & Company maintains a 'Buy' on Brocade (BRCD); F3Q11 Results Inline with 8/5 Pre-announcement, Outlook Relatively Unchanged
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Price: $12.73 --0%
Rating Summary:
4 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Brocade (NASDAQ: BRCD), price target lowered from $5.50 to $5.
Needham analyst says, "BRCD reported F3Q in-line with 8/5 preliminary release and provided guidance for F4Q essentially in-line with our revised (8/5) estimates. Details provided on F3Q consistent with our Note on 8/5: 10% rev. miss was balanced across businesses as factors included SAN OEM inventory reduction, slight SAN end user demand softness, Federal Ethernet below plan and non-Fed. Ethernet strong but just slightly below plan. Solid OPEX control buffeted EPS. BRCD to provide F12/13 outline on 9/14 but we would expect ~5% F12 rev. growth, modest y/y GM% expansion and tight OPEX to yield ~10-20% EPS growth y/y."
For more ratings news on Brocade click here and for the rating history of Brocade click here.
Shares of Brocade closed at $3.32 yesterday.
Needham analyst says, "BRCD reported F3Q in-line with 8/5 preliminary release and provided guidance for F4Q essentially in-line with our revised (8/5) estimates. Details provided on F3Q consistent with our Note on 8/5: 10% rev. miss was balanced across businesses as factors included SAN OEM inventory reduction, slight SAN end user demand softness, Federal Ethernet below plan and non-Fed. Ethernet strong but just slightly below plan. Solid OPEX control buffeted EPS. BRCD to provide F12/13 outline on 9/14 but we would expect ~5% F12 rev. growth, modest y/y GM% expansion and tight OPEX to yield ~10-20% EPS growth y/y."
For more ratings news on Brocade click here and for the rating history of Brocade click here.
Shares of Brocade closed at $3.32 yesterday.
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