Analyst upgrades: PETS, MSPDD and QLGC
Posted Jul 22nd 2008 11:24AM by Eric Buscemi
Filed under: Analyst Upgrades and Downgrades
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MOST NOTEWORTHY: PetMed Express, Mindspeed and QLogic were today's noteworthy upgrades:
- Piper upgraded shares of PetMed Express (NASDAQ: PETS) to Neutral from Sell after the company's Q1 results topped estimates on strong new customer growth. Piper raised their target to $14 from $11.
- Oppenheimer raised Mindspeed (NASDAQ: MSPDD) to Outperform from Perform following the Q3 results, as they believe the company is hitting its stride in VoIP after years of investment and the stock is attractively valued.
- Citigroup upgraded QLogic (NASDAQ: QLGC) shares to Buy from Hold following the company's Q1 results and Brocade (NASDAQ: BRCD)'s acquisition of Foundry Networks, Inc. (NASDAQ: FDRY) to reflect its solid fundamentals and the strategic significance of its switch business. The firm raised their target to $20 from $18.
OTHER UPGRADES:
Tags: amln, brcd, cni, cnl, fdry, mspdd, pets, qlgc
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