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USB Piper Ups Riverstone Network to 'Outperform'

USB Piper upgraded Riverstone Network (RSTN) to outperform.

Analyst Edward Jackson says shares are weak on Enterasys news that the SEC is investigating the company and its affiliates. But Riverstone was not contacted by the SEC; Jackson notes that the both Riverstone Enterasys are spin-offs of Cabletron. Hs suspects Riverstone has no exposure to negative developments underway at Enterasys and views any weakness as a buying opportunity. Jackson believes Riverston has excellent near-term visibility due to large contracts, and will contribute meaningful revenue over the next two quarters. This visibility provides comfort regarding estimates, and Jackson expects the stock will trade up when, and if, favorable fiancial results are reported in April. He has an $18 target.

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