Brocade Communications (BRCD) Gets Bumped Up by Wunderlich

The network equipments provider Brocade Communications Systems, Inc. (NASDAQ:BRCD) conducts its business in the Data Storage Devices industry. Company possesses a portfolio of about 4,651 employees working in the organization. Company’s stock price is experiencing a continuous surge by 11.00% for last three months and its relative strength index remained 55. Company marked a latest development as it has been upgraded by Wunderlich on 18th of February 2011. Wunderlich declared its recommendation near Buy from previously disclosed Hold. However there was also a target price disclosed for BRCD near $8.

Brocade Communications Systems, Inc. on February 18, 2011 increased 5.98% with the closing price of $6.38. The overall volume in the last trading session was 134.94 million shares. Its fifty two week range was $4.64-$6.99. The total market capitalization remained $2.98 billion.

The management of Brocade Communications Systems, Inc. NASDAQ:BRCD recently reported financial results for its first fiscal quarter ended January 29, 2011. In the financial reporting company declared that its quarterly revenues recorded $546 million, representing an increase of 1.2% year-over-year and resulting in diluted earnings per share of $0.06 on a GAAP basis and $0.12 on a non-GAAP basis.

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