Redback Rises on Analyst's Note
Redback Networks (RBAK) was up 10.6% in early afternoon after Morgan Stanley DeanWitter analyst Christopher Stix said the stock looks like it's poised for a recovery.
Stix said Redback has potential upside of 75% against a potential downside of 15% because bad news is already priced into the stock, which was down 65% year-to-date as of Thursday's close. He said news will improve for Redback because companies that lay out DSL will continue to need Redback's Sonet equipment, a subscriber management system that allows them to handle traffic in a local network.
Other netwokers were climbing as well.
Sycamore
(SCMR)
was up 12.4%.
Juniper
(JNPR) - Get Report
was up 1.8%.
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