Goldman Sachs is out with its report today on Emulex (NYSE:

), resuming ELX at Neutral. In its report, Goldman Sachs writes, "We are resuming coverage of Emulex with a Neutral rating and a 12-month price target of $6. Emulex is a provider of network connectivity solutions for enterprises, most notably in the Fibre Channel HBA space where it shares a virtual duopolistic position with QLogic (NASDAQ:

). While this represents a lucrative business for both companies, the rise of 10GbE and converged networks is presenting the companies with new challenges and opportunities that investors are just beginning to appreciate." At the time of posting, shares of ELX were trading at $6.87, up 1.33% from Monday's close.