Despite the fluctuations, analysts see bright spots. First Albany's Mark Kelleher, for instance, stands firm by his Brocade upgrade. He changed the stock from a neutral to buy rating before the bell on Wednesday, based on the companys stock falling over the last five weeks from the mid-thirties to about $16 per share.
Its share price has been cut in half, but Brocade is still on the front line in the SAN market and will do well in this sector when the market improves, he maintains. Kelleher has given Brocade shares a 12-month price target of $24.
Brocade owns the franchise for SANs, it owns the 16-port switch market and is on track with its 12000 switch to move into the high-end data center market next year," Kelleher asserts. "[Despite] these difficult times, Brocade should still come out okay."
In the meantime, Kelleher says investors are apprehensive, which is causing the market to swing up and down. As well, he acknowledges there are many uncertainties.
Its a very difficult environment right now, he says. We need to wait for the dust to clear to see what direction this is going to move in.
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