Robert W. Baird & Co. Inc. analyst Dan Renounard has downgraded the stock from Market Outperform to Market Perform, attributing management's "defensive behavior" over the 12000 switch as his reason for the move.
Goldman Sachs & Co. has
upgraded the stock to its Recommended list from Market Outperform. Goldman analyst Laura Conigliaro cited a strong new product cycle, high priority market, accelerating revenues and expanding margins, as her reasons for being positive on the stock.
At 12:30 pm EST, Thursday, Brocade stock was trading up 8.23 percent at $31.20.
Jo Maitland, Senior Editor, Byte and Switch
http://www.byteandswitch.com
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