Brocade Communications Systems (BRCD) Receives ‘Analyst’ Rating

Brocade Communications Systems (BRCD) has an average broker rating of 2.88, which is interpreted as a Hold, as rated by 16 equity analysts. Nonetheless, 3 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 11 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 2 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.

Brocade Communications Systems (BRCD) : Currently there are 11 street experts covering Brocade Communications Systems (BRCD) stock. The most bullish and bearish price target for the stock is $13 and $8 respectively for the short term. The average price target of all the analysts comes to $9.95. The estimated standard deviation from the target is $1.56.


Also, Citigroup maintains its rating on Brocade Communications Systems (NASDAQ:BRCD). The global brokerage major raises the current price target from $10 per share to $11 per share. Analysts at the Citigroup have a current rating of Neutral on the shares. The rating by the firm was issued on August 26, 2016.

Brocade Communications Systems (NASDAQ:BRCD): After opening at $8.89, the stock dipped to an intraday low of $8.84 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $9.11 and the buying power remained strong till the end. The stock closed at $9.11 for the day, a gain of 3.05% for the day session. The total traded volume was 4,404,652. The stocks close on the previous trading day was $8.84.

Brocade Communications Systems, Inc. (Brocade) is a supplier of networking equipment, including end-to-end Internet Protocol-based Ethernet networking solutions and storage area networking solutions for businesses and organizations of all types and sizes, including global enterprises, and service providers, such as telecommunication firms, cable operators and mobile carriers. Brocade offers networking hardware and software products and services. Its products and services are marketed, sold and supported globally to end-user customers through distribution partners, including original equipment manufacturers, distributors, systems integrators, value-added resellers and directly to end-users by the Brocade direct sales force. The Company operates in four segments: Data Storage, Global Services, IP Layer 2-3 and IP Layer 4-7/ Application Delivery Products.

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