Markets & Finance

RBC Dain Rauscher Keeps Buy on Extreme Networks

RBC Dain Rauscher reiterates its buy rating on Extreme Networks (EXTR)

Analyst Sanjiv Wadhwani says channel checks reveal stability. He sees 8% to 10% growth in 2002, noting that his channel checks indicate a spike in demand in October that was not sustained in November. He notes, however, that demand in December seems to have come back a bit.

Overall, he still expects Extreme to post a flat sales figure with some upside on EPS. He notes the expectation of sequential growth in the first half 2002 by most and says that Europe seems to have had less of a roller-coaster in October and November. Wadhwani sees $0.03 EPS in fiscal 2002.

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