Updated from 10:35 a.m ET to include stock prices, added commentary.
NEW YORK (TheStreet) -- The consolidation of the telecom sector may be nearly complete as investors await a long-speculated merger of Sprint (S) and T-Mobile (TMUS), but analysts at Goldman Sachs believe there could be a brewing wave of deal-making among companies that supply equipment to the telecom and cable industries.
A team of Goldman communications technology analysts led by Simona Jankowski said on Monday they have raised their ranking that Adtran (ADTN), Calix (CALX), Ciena (CIEN), Infinera (INFN), Juniper Networks (JNPR) and Silver Springs Networks (SSNI) could each be the target of consolidation, as telecom and cable equipment suppliers seek scale and revenue growth to meet a recovering economy.
Those firms now join BlackBerry (BBRY), BroadSoft (BSFT), Gigamon (GIMO), Infoblox and Ruckus Wireless (RKUS) as the most-likely M&A targets in the communications technology space, according to Goldman's rankings.
Goldman updated what it calls the "M&A rankings" report across the communications technology sector because it believes recent consolidation, for instance Comcast's (CMCSA) proposed takeover of Time Warner Cable (TWC), AT&T's (T) offer for DirecTV (DTV) and Sprint's possible merger with T-Mobile, could pressure vendors to also seek added scale. Meanwhile, management teams are refocusing on top-line growth either through organic investment or M&A amid a recovering economy.