Cantor Fitzgerald Starts Emulex (ELX) at Buy; Overhang Nearing End, Romley Ahead

Cantor Fitzgerald initiates coverage on Emulex (NYSE: ELX) with a Buy. PT $12.00.

Analyst, Paul Mansky, said, "Fundamentally, we view the company as being a key benefactor of the 10GbE cycle – expected to accelerate with the Romley server introductions commencing mid-year. Meanwhile, our initial assessment of the downside risk to estimates relative to the Broadcom litigation leaves the stock attractive at current levels. Should there be added volatility around the final ruling expected Friday March 9th (post close), we recommend a more aggressive accumulation."

For an analyst ratings summary and ratings history on Emulex click here. For more ratings news on Emulex click here.

Shares of Emulex closed at $10.22 yesterday.

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