Brocade (BRCD) Weak Across All Business Lines - BMO
BMO Capital analyst, Tim Long, noted that Brocade's (NASDAQ: BRCD) weakness was broad-based across the SAN and IP Networking segments. FYQ3 guidance was weak as well. FY2016 goes to $0.95 from $1.01 and FY2017 EPS goes to $0.92 from $1.03. Including Ruckus, the combined model yields EPS of $1.03 in FY2017 or $0.11 in accretion, in line with guidance for $0.08-$0.12.
No change to Market Perform rating and the price target goes to $8 from $10.
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 $7.97 yesterday.