RBC Capital Reiterates Sector Perform on Brocade Communications (BRCD)

RBC Capital reiterated a Sector Perform rating and $12.00 price target on Brocade (NASDAQ: BRCD).

Analyst Mark Sue commented, "Brocade is supplementing durability in the SAN business with new products and diversification in partnership, while IP networking business is better. Software monetization is ramping, albeit the pace remains slower than expected. Notwithstanding opex growth and tax headwinds, cash generation is solid and Brocade is committed to return >60% FCF to shareholders via buybacks/dividends (yield 1.7%)."

For an analyst ratings summary and ratings history on Brocade click here. For more ratings news on Brocade click here.

Shares of Brocade closed at $10.38 yesterday.

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