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

Brocade Communications Systems Inc. (NASDAQ:BRCD) had its price target dropped to $10.00 by Citigroup in an issued report announced 9/23/2016. The new stock price target indicates a possible upside of 0.09% based on the company's last closing price.

On Thursday September 22, 2016, Citigroup released a statement on Brocade Communications Systems Inc. (NASDAQ:BRCD) dropped the target price from $11.00 to $10.00 that suggested an upside of 0.10%.

Having a price of $9.17, Brocade Communications Systems Inc. (NASDAQ:BRCD) traded 1.32% higher on the day. With the last close down -0.62% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the same period. Brocade Communications Systems Inc. has recorded a 50-day average of $9.41 and a two hundred day average of $9.29. Volume of trade was down over the average, with 876,667 shares of BRCD changing hands under the typical 6,352,720

Performance Chart

Brocade Communications Systems Inc. (NASDAQ:BRCD)

With a total market value of $0, Brocade Communications Systems Inc. has price-earnings ratio of 16.78 with a one year low of $7.40 and a one year high of $10.94 .

A total of 15 analysts have released a report on Brocade Communications Systems Inc.. zero analysts rating the company a strong buy, zero analysts rating the company a buy, zero analysts rating the company a hold, zero analysts rating the company a underperform, and finally zero analysts rating the company a sell with a 12-month price target of $9.80.

More 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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