Why Gigamon, Inc. Shares Soaredhttp://www.fool.com/investing/general/2014/01/31/why-gigamon-inc-shares-soared.aspx Steve Symington
January 31, 2014
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Gigamon, (NYSE: GIMO) jumped more than 10% during Friday's intraday trading after Goldman Sachs upgraded the stock, and speculated that the network traffic visibility specialist could be a takeover target.
So what: Anticipating an earnings beat and raise when Gigamon announces next Tuesday, Goldman analyst Ken Schofield upgraded shares to buy from neutral, and assigned a $38 price target. Even after the pop, that still represents a healthy premium of nearly 25% from today's close.
Schofield explained his rationale by pointing to improvin