Brocade outlook has improved, says Wells Fargo After viewing a presentation by Brocade's management, Wells Fargo is more upbeat on the company's near- to intermediate-term prospects. However, the firm thinks much of the good news is already reflected in the stock and recommends waiting for a pullback before considering buying the shares, all else being equal. It keeps a Market Perform rating on the stock.
Brocade downgraded to Sell from Neutral at UBS UBS analyst Amitabh Passi downgraded Brocade Communications to Sell saying he sees increasing downside risk to estimates from weaker trends in storage and margins being close peak levels. Passi cut his price target for the stock to $9 from $11.50.