Rochester, NY 7/15/2009 2:11:25 AM
BRCD - Brocade shares climb as Jefferies raises estimates
Brocade Communications Systems, Inc.
Brocade Communications Systems, Inc., BRCD
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Shares of Brocade Communications Systems Inc. made gains Tuesday despite a broader market slump after Jefferies & Co. raised its estimates for fiscal third-quarter results. "We expect expanding partnerships, new products and entry into new markets to drive (long term) growth," Jefferies analyst Munjal Shah said in a note. "We believe Brocade is executing well and capitalizing on the opportunities."
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