Boston, MA 02/18/2014 (wallstreetpr) – Brocade Communications Systems, Inc. (NASDAQ:BRCD) has had its stock price target hoisted to $13, up from $12 at RBC Capital. The stock is currently rated “outperform” by the brokerage. BRCD carried a consensus “hold” rating and average price target of $8.79 following sentiments from 21 analysts tracking the stock. The company gained 19 cents per share in the previous session to conclude the day at $9.62 per share. A look at the average price target ($8.79) and the previous closing price ($9.62 reveals a potential downside of almost $1. BRCD reported earnings per share of 24 cents in the most recently quarter, at a time when analysts were hoping for 20 cents. As for revenue, Brocade Communications Systems, Inc. (NASDAQ:BRCD) generated $565 million, exceeding the analysts’ estimate of $550.69 million.
J.C. Penney Company, Inc. (NYSE:JCP): The troubled retail store continues to receive bad news on its stock, the latest being that one of its closely watched institutional investors has just cut its stake in the company. Soros Fund Management which acquired about 17 million shares of JCP last April, just soon after the ouster Ron Johnson from the CEO position, cut its holding by more than 30 percent. That Soros decided to trim its position in JCP signals a shift in the course just a few months after its move to buy JCP stock resulted in big investor interest in JCP. J.C. Penney Company, Inc. (NYSE:JCP) traded up in the previous session whereby the stock gained 15 cents on each share to close at $6.14 per share.
Sprint Corporation (NYSE:S) now carried a price target of $8.25 from analysts at Cowen and Company. This upward price objective review lifts the stock from $7.25 in the previous view. The latest price target signals a potential downside of about 1.79 percent on the value of the stock if viewed against the previous closing. Sprint close at $8.40 per share in the previous session after losing 1 cent or 0.12 percent of its value. About 27 investment analysts have recently commented on the stock of Sprint Corporation (NYSE:S) whereby consensus rating is “hold” and average price objective is $7.66.
