Aruba Networks price target raised to $27 from $21 at Pacific Crest Pacific Crest increased its price target on Aruba as the firm believes that the company reported strong results and provided upbeat guidance. The firm thinks the company is in the midst of a sharp recovery, and expects its growth and margins to improve throughout 2014. It keeps an Outperform rating on the shares.
News For ARUN From The Last 14 Days
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Ruckus, Aruba advance after FCC approves new school WiFi program Shares of Ruckus Wireless (RKUS) and Aruba Networks (ARUN) are rising after the FCC announced that it would allocate new funds to subsidize the launch of WiFi networks in schools and libraries. Ruckus and Aruba provide products used for WiFi networks. WHAT'S NEW: The FCC said it would allocate $2B over the next two years to subsidize the launch of WiFi connections at schools and libraries. For the following three years, the agency said it would look to spend $1B annually on the project. The FCC said the funds would be "distributed fairly to all schools and libraries while recognizing the needs of the nationís rural and poorest school districts." PRICE ACTION: In mid-afternoon trading, Ruckus surged 5.5% to $11.62 and Aruba advanced 4.6% to $17.04.