Comtech Shares Drop After Piper Analyst Cuts Rating

Comtech Group Inc. (COGO), the maker of software for Lenovo Group Ltd. and Alcatel-Lucent, dropped the most in more than three years in Nasdaq trading after an analyst cut his rating on the stock.

Comtech fell $2.87 to $17.97 at 4 p.m. New York time in Nasdaq Stock Market trading. The 14 percent decline was the biggest since August 2004.

Analyst T. Michael Walkley at Piper Jaffray & Co. lowered his rating to ``market perform'' from ``outperform.''

To contact the reporter on this story: Dina Bass in Seattle at dbass2@bloomberg.net

To contact the editor responsible for this story: Cesca Antonelli at fantonelli@bloomberg.net

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