Sybase Rises 3% on Upgrade
Software maker
Sybase
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was up 3% in early trading.
Merrill Lynch
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upgraded it to mid- to long-term buy from accumulate.
The move comes after Sybase's stock tumbled on news that it will acquire
New Era of Networks
(NEON)
.
Merill said it expects flat earnings-per-share growth in 2001 caused by the acquisition and 15% to 20% growth in 2002.
