Brocade Communications Systems (BRCD) : The highest level Brocade Communications Systems (BRCD) is projected to reach is $13 for the short term and the lowest estimate is at $8. The consolidated price target from 10 rating analysts who initiate coverage on the stock is $9.95 and the possibility the share price can swing is $1.64.
Brocade Communications Systems (BRCD) : The consensus on Brocade Communications Systems (BRCD) based on 16 analyst recommendation on the company stock is 2.88, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 3 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 11 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 2 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.
Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Brocade Communications Systems (NASDAQ:BRCD). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $10 per share to $11 per share. The rating by the firm was issued on August 26, 2016.
Brocade Communications Systems (NASDAQ:BRCD): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.99 and $8.90 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.08. The buying momentum continued till the end and the stock did not give up its gains. It closed at $9.06, notching a gain of 0.89% for the day. The total traded volume was 6,197,623 . The stock had closed at $8.98 on the previous day.
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.