Emulex Corp. Given New $8.50 Price Target at JPMorgan Chase & Co. (ELX)
Equities researchers at JPMorgan Chase & Co. increased their price target on shares of Emulex Corp. (NYSE:ELX) from $8.00 to $8.50 in a research report issued on Friday, ARN reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.’s price target would suggest a potential upside of 15.49% from the company’s current price.
A number of other firms have also recently commented on ELX. Analysts at BMO Capital Markets raised their price target on shares of Emulex Corp. from $8.00 to $8.50 in a research note to investors on Friday. They now have a “market perform” rating on the stock. Separately, analysts at Merrill Lynch upgraded shares of Emulex Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, January 16th. Finally, analysts at Bank of America Corp. upgraded shares of Emulex Corp. from an “underperform” rating to a “buy” rating in a research note to investors on Thursday, January 16th. They now have a $8.50 price target on the stock, up previously from $5.75. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.06.
Emulex Corp. (NYSE:ELX) traded down 2.90% on Friday, hitting $7.36. 2,047,191 shares of the company’s stock traded hands. Emulex Corp. has a 1-year low of $5.72 and a 1-year high of $8.99. The stock’s 50-day moving average is $7.20 and its 200-day moving average is $7.5. The company’s market cap is $675.1 million.
Emulex Corp. (NYSE:ELX) last announced its earnings results on Thursday, January 30th. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.04. The company had revenue of $123.00 billion for the quarter, compared to the consensus estimate of $120.57 billion. Analysts expect that Emulex Corp. will post $0.65 EPS for the current fiscal year.
Emulex Corporation (NYSE:ELX) is a provider of a range of network convergence solutions that connect servers, storage, and networks within the data center.
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