Markets & Finance

Needham Boosts Metro One to 'Buy'

Needham upgraded Metro One (MTON) to buy from hold.

Analyst Rich Valera is upgrading on price weakness, but says there's no evident change in fundamentals. He notes the stock is down about 30% over the last two days, likely due to a negative report issued by an independent research firm. While he believes the report may have raised some valid issues regarding the likelihood of slowing revenue growth at the company, he says these issues largely are familiar to him, and were considered in his recent downgrade of the company at higher levels.

Valera still sees $0.30 Q3 EPS on $63M revenues and $1.15 2001 EPS on $240M revenues. He set a $35 target.

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