Extreme Networks Downgraded to Hold on Valuation

Analyst A.A. LaFountain says company is well positioned to benefit from expansion of gigabit Ethernet

Investment house Needham downgraded network switching company Extreme Networks (EXTR ) stock to hold from buy due to valuation and raised the price target on the stock to $36, up from $35. Analyst A.A. LaFountain said the company is well positioned to benefit from expansion of gigabit Ethernet into metropolitan area network markets, providing a low-cost product for that segment.

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