Stifel Nicolaus Reiterates a Hold Rating on Brocade

By Carrie Williams

In a report issued on May 25, Aaron Rakers from Stifel Nicolaus reiterated a Hold rating on Brocade (NASDAQ: BRCD), with a price target of $12.75. The company’s shares closed yesterday at $12.63, close to its 52-week high of $12.69.

According to TipRanks.com, Rakers is a 4-star analyst with an average return of 13.0% and a 62.4% success rate. Rakers covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Electronics for Imaging, and Super Micro Computer.

Brocade has an analyst consensus of Hold, with a price target consensus of $12.75.

The company has a one year high of $12.69 and a one year low of $8.50. Currently, Brocade has an average volume of 4.03M.

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Brocade Communications Systems, Inc. engages in the provision of innovative network solutions. It supplies networking hardware and software, including Storage Area Networking solutions and Internet Protocol networking solutions for businesses and organizations worldwide. It operates through the following segments: Storage Area Networking Products, Internet Protocol Networking Products, and Global Services. The Storage Area Networking Products segments include infrastructure products and solutions that assist customers in the development and delivery of storage and server consolidation, disaster recovery and data security, and in meeting compliance issues regarding data management. These products are used to build storage area networks and are generally used in conjunction with servers and storage subsystems, Storage Area Networking interconnection components such as host bus adapters and server and storage management software applications and tools. The Internet Protocol Networking segments products include Layer 2 and Layer 3 Ethernet switches and routers that are designed to connect users over private and public networks, including local area, metro, and within & across global data centers. Global Services segment include break and fix maintenance, installation, consulting, network management and software maintenance, and post-contract customer support revenue. Brocade Communications Systems was founded by Paul R. Bonderson, Jr., Kumar Malavalli and Seth D. Nieman on August 24, 1995 and is headquartered in San Jose, CA.