UPDATE: Morgan Stanley Reiterates on QLogic Following Ethernet Deal

In a report published Wednesday, Morgan Stanley analyst Katy L. Huberty reiterated an Underweight rating on QLogic (NASDAQ: QLGC ), but removed the $10.50 price target. In the report, Morgan Stanley noted, “QLogic's acquisition of Broadcom's Ethernet business gives it access to higher growth market with exposure to cloud data