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A statement released earlier today by Citigroup about Brocade Communications Systems Inc. (NASDAQ:BRCD) bumps down the target price to $10.00

Just yesterday Brocade Communications Systems Inc. (NASDAQ:BRCD) traded 1.51% higher at $9.07. Brocade Communications Systems Inc.’s 50-day moving average is $9.41 and its 200-day moving average is $9.29. The last stock price is down -2.30% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 1,709,876 shares of BRCD traded hands, down from an average trading volume of 6,423,640

Indicating as possible upside of 0.10%, Citigroup lowered the target price of Brocade Communications Systems Inc. (NASDAQ:BRCD) to $10.00

Recent Performance Chart

Brocade Communications Systems Inc. (NASDAQ:BRCD)

Brocade Communications Systems Inc. has 52 week low of $7.40 and a 52 week high of $10.94 with a PE ratio of 16.50 and has a market capitalization of $0.

A total of 15 analysts have released a research note on Brocade Communications Systems Inc.. zero equity analysts rating the company a strong buy, zero analysts rating the stock a buy, 0 brokerages rating the stock a hold, 0 brokers rating the stock a underperform, and finally zero firms rating the stock a sell with a consensus target price of $9.80.

About Brocade Communications Systems Inc. (NASDAQ:BRCD)

Brocade Communications Systems, Inc. is a supplier of networking hardware, software and services, including storage area networking (SAN) solutions, and Internet protocol (IP) networking solutions for businesses and organizations of various types and sizes. The Company has three operating segments: SAN Products, IP Networking Products and Global Services. The SAN Products segment includes infrastructure products and solutions that help customers develop and deploy storage and server consolidation, disaster recovery and data security. The IP Networking Products segment includes Layer 2 and Layer 3 Ethernet switches, and routers that are designed to connect users over private and public networks, including local area, metro, and within and across global data centers. The Global Services segment includes break/fix maintenance, installation, consulting, network management and software maintenance, and post-contract customer support revenue.

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