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Upgrade Alert for Brocade Communications Systems (BRCD)

By David Diaz

Brocade Communications Systems (NASDAQ:BRCD) was upgraded from Underperform to Neutral at Baird today. The stock closed yesterday at $12.32 on volume of 105.6 million shares, above average daily volume of 6.9 million.

Brocade Communications Systems share prices have moved between a 52-week high of $12.88 and a 52-week low of $7.40 and closed yesterday at 66% above that low price at $12.32 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1.3%.

Brocade Communications Systems (NASDAQ:BRCD) defies analysts with a current price ($12.32) 13.4% above its average consensus price target of $10.67. Brocade Communications Systems shares have support at the 50-day moving average (MA) of $9.85 and additional support at the 200-day MA of $9.67.

Brocade Communications Systems, Inc. provides switching solutions for storage area networks (SAN). The Company's switching solutions utilize the fiber channel interconnect protocol. Brocade's family of SilkWorm switches enables a company to manage growth of its data storage requirements, improve the data transfer performance, and increase the size of its SAN.

SmarTrend is monitoring the recent change of momentum in Brocade Communications Systems. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Brocade Communications Systems in search of a potential trend change.

Keywords: analyst upgrades/downgrades brocade communications systems

Ticker(s): BRCD