Wedbush Morgan Upgrades Ceragon Networks Ltd. (CRNT) to Outperform
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Mid-day, Wedbush Morgan upgraded Ceragon Networks Ltd. (Nasdaq: CRNT) from Neutral to Outperform and raised their price target from $9.25 to $10.50, following news this morning on two positive announcements with WiMAX operators.
The firm commented, "In the first, the company announced that privately held Open Range will deploy Ceragon products along with Alvarian; however, this activity may not be material any time soon. We believe the second announcement, which refers to an undisclosed leading North American WiMAX operator is significant and, based on our checks, we believe the customer is Clearwire (Nasdaq: CLWR)."
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