was down 5.2% in preopen
Morgan Stanley Dean Witter
cut its price target $75 from $90.
The move was part of a broad downgrade of the network sector. Morgan Stanley lowered
to outperform from strong buy and sliced their price targets. Juniper's target was cut to $200 from $275. The stock was down 17.1% in the preopen. Redback's target was cut to $115 from $150. It was down 16.3%.
was down 11.3% after its price target was cut to $105 from $135.