Though Xyratex (XRTX +3.1%) initially fell after reporting FQ3 results featuring weak guidance,...

|About: Xyratex Ltd. (XRTX)|By:, SA News Editor

Though Xyratex (XRTX +3.1%) initially fell after reporting FQ3 results featuring weak guidance, shares have reversed course as multiple analysts come to the storage vendor's defense. Brean Murray (Buy) believes Xyratex's fundamentals are bottoming, and Needham (Buy) is lifting its FY12 EPS forecast on an improved gross margin outlook.