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Cisco Systems

(CSCO) - Get Cisco Systems, Inc. Report

was down 5.2% in preopen


trading after

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

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Juniper Networks

(JNPR) - Get Juniper Networks, Inc. Report


Redback Networks


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%.

Extreme Networks

(EXTR) - Get Extreme Networks, Inc. Report

was down 11.3% after its price target was cut to $105 from $135.