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Investment analysts at BMO Capital Markets lifted their target price on shares of Emulex Corp. (NYSE:ELX) from $8.00 to $8.50 in a note issued to investors on Friday, American Banking News reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 15.49% from the company’s current price.

Emulex Corp. (NYSE:ELX) traded down 2.90% during mid-day trading on Friday, hitting $7.36. The stock had a trading volume of 2,047,191 shares. Emulex Corp. has a 52 week low of $5.72 and a 52 week high of $8.99. The stock has a 50-day moving average of $7.20 and a 200-day moving average of $7.5. The company’s market cap is $675.1 million.

Emulex Corp. (NYSE:ELX) last issued its quarterly earnings data 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.

ELX has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Zacks downgraded shares of Emulex Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 14th. They now have a $8.50 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $8.06.

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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