Brocade fundamentals overshadowed by M&A discussion, says JP Morgan
JP Morgan attributes the pullback in Brocade shares to management's affirming its intention to remain a standalone company. However, the firm believes the company's fundamentals are intact and keeps an Overweight rating on the stock. :theflyonthewall.com
News For BRCD From The Last 14 Days
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Today's noteworthy downgrades include: Research in Motion (RIMM) downgraded to Underperform from Hold at Jefferies...Cablevision (CVC) downgraded to Underweight from Neutral at JP Morgan...Edwards Lifesciences (EW) downgraded to Market Perform from Outperform at Wells Fargo...Rofin-Sinar (RSTI) downgraded to Neutral from Overweight at Piper Jaffray...Kforce (KFRC) downgraded to Hold from Buy at Deutsche Bank...Airgas (ARG) downgraded to Neutral from Buy at Goldman...Vertex Pharmaceuticals (VRTX) downgraded to Neutral from Buy at Goldman...Aetna (AET) downgraded to Buy from Conviction Buy at Goldman...Amerigroup (AGP) downgraded to Neutral from Buy at Goldman...ONEOK (OKE) downgraded to Neutral from Buy at Citigroup...Acme Packet (APKT) downgraded to Underperform from Neutral at Mizuho...RadioShack (RSH) downgraded to Equal Weight from Overweight at Morgan Stanley...Brocade (BRCD) downgraded to Market Perform from Outperform at JMP Securities...Merck (MRK) downgraded to Neutral from Buy at Davenport...CarMax (KMX) downgraded to Sector Perform from Outperform at RBC Capital...International Paper (IP) downgraded to Sector Perform from Outperform at RBC Capital...Abercrombie & Fitch (ANF) downgraded to Neutral from Outperform at Macquarie...Rowan Companies (RDC) downgraded to Neutral from Outperform at Macquarie. :theflyonthewall.com
Today's noteworthy initiations include: Spirit Airlines (SAVE) initiated with a Buy at Deutsche Bank...Acme Packet (APKT) initiated with an Equal Weight at Morgan Stanley...Cummins (CMI) initiated with a Market Perform at William Blair...Brocade (BRCD) initiated with a Hold at Kaufman Bros...QLogic (QLGC) initiated with a Buy at Kaufman Bros. :theflyonthewall.com