Auriga Reiterates a 'Buy' on Aruba Networks (ARUN)

Auriga reiterates a 'Buy' on Aruba Networks (NASDAQ: ARUN) price target of $28.00.

Auriga analyst said, "Aruba's analyst meeting yesterday defined the technology transition necessary to jump the company to the one billion dollar annual sales level, some 60% higher than our FY13 forecast. In addressing a market that approaches $14 billion, Aruba now sees itself as a large, global enterprise full access vendor, expanding the company's scope versus its previous WLAN vertical. Importantly, on the progress the company has made since its founding 10 years ago and its IPO five years ago, Aruba is also raising its financial target model..."

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

Shares of Aruba Networks closed at $22.47 yesterday.

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