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Brocade Communications Systems, Inc. Message Board

  • sunnyinseatt1e sunnyinseatt1e Dec 11, 2002 5:27 PM Flag

    $4.00 PRICE TARGET!! CISCO PAIN "READ**

    - - - - - - - - - - - - - - - Brocade Hears Cisco's Footsteps Mark Lewis, 11.25.02, 1:26 PM ET RBC Capital Markets analyst Robert Montague cited the Cisco factor today when he issued a note predicting that Brocade has further to sink. "Our $4 price target for Brocade's shares is a price level that represents approximately cash on hand plus fiscal year 2003 revenue," Montague wrote. "We believe this multiple is justified as the company faces losses, product transitions and a potentially prolonged market-share battle with Cisco." Brocade added further to investors' consternation last week when it revealed that its chief operating officer, Michael Byrd, will step down at the end of the current quarter

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