USB Piper Upgrades 3Com to 'Market Perform'
USB Piper upgraded 3Com (COMS ) to market perform from underperform.
Analyst Sanjiv Wadhwani says the data and voice networking provider is on track to meet his earnings and revenue expectations. He believes the 7700 switch, produced by original equipment manufacture Huawei, is performing relatively well, especially in Europe. He says although the product will probably generate less than $1 million in revenue for August, he thinks 7700 switch sales will give a peek into the potential of a joint venture with Huawei once the deal is consummated.
Wadhwani says the company's new Internet protocol-private branch exchange product will hit the market in the next three months; he believes the product is in trials with at least one Fortune 500 customer, and has been well received. Wadhwani has a $6 target.