J.P. Morgan Maintains Overweight on Brocade (BRCD)

J.P. Morgan is out with its report on Brocade (NASDAQ: BRCD), maintaining Overweight.

In a note to clients, J.P. Morgan writes, "We expect shares of Overweight-rated Brocade to trade higher after its February 17 earnings call. We are not preparing for a major beat-and-raise, but we believe that the results and outlook should be good enough to end the parade of downward resets to numbers previously. In our view, numbers holding up or slightly rising should be a positive catalyst."

J.P. Morgan has a $7 PT on BRCD.

Shares of BRCD closed Friday at $5.88.