Foundry Up on Analyst Note

By TSC Staff ,

Network equipment company Foundry Networks (FDRY) was up 6.3% in preopen Island trading after Robertson Stephens raised 2001 EPS estimates to 20 cents from 8 cents.

In a research note, Robertson Stephens' analyst Peter Carrillo III said he has "increased confidence" that the worst is over, but remains cautious.

Carrillo said he expects to see revenue growth beginning in the June quarter. Carrillo's price target is $21.50.

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