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Technology Stocks : MCDT
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To: Proud_Infidel who wrote (78)11/28/2001 5:38:12 PM
From: Proud_Infidel  Read Replies (1) of 145
 
RESEARCH ALERT-JP Morgan starts McData
NEW YORK, Nov 28 (Reuters) - Investment bank JP Morgan on Wednesday said it started coverage of data storage company McData Corp. (NasdaqNM:MCDT - news) with a ``long-term buy'' rating and a $25 price target, based on the growing demand for its storage products.

JP Morgan cited McData's robust offering and strong customers and partnerships as reasons for the rating.

McData shares were at $23.11, down 2 percent, or 50 cents, in early Nasdaq trading.
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