Emulex (EMLX) was up 7% in midmorning after Salomon Smith Barney doubled its price target for the data storage equipment maker to $40 from $20, and raised its rating to buy from outperform.

Emulex posted third-quarter earnings of 13 cents a share, meeting lowered expectations and above the year-ago earnings of 10 cents. The company said revenue would likely remain the same for the fourth quarter.

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