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Dain Rauscher says it is bullish on Extreme Networks (EXTR
) after the company met with Wall Street analysts. The firm reiterated its buy rating on the broadband networking company.
Analyst Sanjiv Wadhwani says Extreme has seen a level of stability in North American and Asian orders in April, but there are signs of a slowdown in Europe. Wadhwani says Extreme continues to experience success in displacing rivals 3Com and Cabletron. He notes the company is focused on developing 10 GigE over long distance. The analyst says Extreme is using its MPLS-based Ethernet metro network to extend Ethernet services in metro areas by tunneling Ethernet and Sonet services. He also notes the company previewed proxy switching to address the content networking market. Wadhwani has a $40 price target on the shares.