UBS Maintains a 'Neutral' on Brocade (BRCD); 4Q Beats, Raising Estimates and Target
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Price: $12.73 --0%
Rating Summary:
4 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS maintains a 'Neutral' on Brocade (NASDAQ: BRCD) price target raised $4.35 to $5.00.
UBS analyst says, "Nice 4Q Results, Storage and Ethernet Outperform: 4Q results beat w/ sales and EPS of $550M and $0.16 vs. our estimate of $530M and $0.10 (cons. of $527M and $0.10). Storage and Ethernet revenues both outperformed by $16M and $10M, with Services underperforming by $5M. Gross mgns improved by 110bps QoQ. Opex was managed down at $246M vs. $257M last qtr. The interest expense, tax rate and share count were lower than our forecast."
"Our CY11 and CY12 rev fcst is revised up slightly to $2.15B (+2%) and $2.25B (+4%), with EPS higher on stronger gross and operating mgns. We forecast CY11/12 EPS of $0.51/$0.56 vs. prior $0.41/$0.45."
For an analyst ratings summary and ratings history on Brocade click here. For more ratings news on Brocade click here.
Shares of Brocade closed at $4.48 yesterday.
UBS analyst says, "Nice 4Q Results, Storage and Ethernet Outperform: 4Q results beat w/ sales and EPS of $550M and $0.16 vs. our estimate of $530M and $0.10 (cons. of $527M and $0.10). Storage and Ethernet revenues both outperformed by $16M and $10M, with Services underperforming by $5M. Gross mgns improved by 110bps QoQ. Opex was managed down at $246M vs. $257M last qtr. The interest expense, tax rate and share count were lower than our forecast."
"Our CY11 and CY12 rev fcst is revised up slightly to $2.15B (+2%) and $2.25B (+4%), with EPS higher on stronger gross and operating mgns. We forecast CY11/12 EPS of $0.51/$0.56 vs. prior $0.41/$0.45."
For an analyst ratings summary and ratings history on Brocade click here. For more ratings news on Brocade click here.
Shares of Brocade closed at $4.48 yesterday.
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