Aruba Networks: Lazard Says Time To Buy (at Barron's Online)

Aruba Networks (ARUN) shares are higher today on a bullish note from Lazard Capital analyst Ryan Hutchinson, who upped his rating on the stock to Buy from Hold, setting an $8 price target. Hutchinson says checks find the overall business is strong as the end of the July quarter approaches. “While macro-related risks should not be ignored, given the reasonable valuation, attractive long-term growth prospects and improving near-term fundamentals, we believe current estimates are achievable with upside potential in calendar 2009,” he writes. Hutchinson says the company has gained momentum in the education market, with continued strength in health-care, high tech and retail. He also says the federal business has improved after a January quarter miss. ARUN today is up 23 cents, or 4.5%,... [read full story]