BMO Capital Raises Estimates and PT on Brocade (BRCD); Valuation Attractive, But Concerns Remain
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Price: $12.73 --0%
Rating Summary:
4 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 9 | New: 31
Rating Summary:
4 Buy, 22 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 9 | New: 31
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BMO Capital maintains a 'Market Perform' on Brocade (NASDAQ: BRCD) price target raised from $5.75 to $6.00.
Analyst, Keith Bachman, said, "BRCD reported decent results, relative to the stock performance over the past several weeks, which we think is good enough. Similar to the January Q, strength in Storage more than offset weakness in Ethernet."
Citing outperformance in the Storage business, Bachman raised FY13 EPS from $0.62 to $0.64.
In conclusion, Bachman, said, "We believe valuation is attractive at present levels. However, we do have some concerns about the sustainability of Storage revenue, and the transition of the sales model in the Ethernet business at a time of end market weakness."
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 $4.94 yesterday.
Analyst, Keith Bachman, said, "BRCD reported decent results, relative to the stock performance over the past several weeks, which we think is good enough. Similar to the January Q, strength in Storage more than offset weakness in Ethernet."
Citing outperformance in the Storage business, Bachman raised FY13 EPS from $0.62 to $0.64.
In conclusion, Bachman, said, "We believe valuation is attractive at present levels. However, we do have some concerns about the sustainability of Storage revenue, and the transition of the sales model in the Ethernet business at a time of end market weakness."
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 $4.94 yesterday.
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