Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Citigroup Ups Emulex to Buy


Citigroup upgraded Emulex (ELX) to buy from hold, after the company's negative third quarter preannouncement sent shares down almost 5% in aftermarket to $16.

Analyst Paul Mansky says the company cited timing associated with the ramp up of its 4Gb products at two key Original Equipment Manufacturers. He believes the first half of 2006 represents a trough, leaving limited downside for the stock. He says that with Wednesday's wider-than-expected miss, he now thinks Emulex is set for both estimate and multiple expansion over the next several quarters. He sees product transitions at key customers subsiding along with new program wins in 4Gb, blades, and Linux. He raises his $18.59 stock price target to $19.50.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus