First Albany Raises Computer Network Tech to Strong Buy

Analyst Mark Kelleher says strong underlying fundamentals and large cash reserve are providing strategic opportunities

First Albany raised its rating on Computer Network Technology (CMNT ) to strong buy from buy after the network storage products company posted fourth quarter earnings per share from continuing operations of $0.04 vs. $0.17 on a 29% revenue rise. Analyst Mark Kelleher says that with the rapid decline in the stock over the last month, the strong underlying fundamentals and the large cash stockpile are providing strategic opportunities.

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