RESEARCH ALERT-Salomon starts Acterna at buy
June 11, 2001 12:00:00 PM ET
NEW YORK, June 11 (Reuters) - Salomon Smith Barney on Monday said it started coverage of Acterna Corp. (ACTR), a maker of products to monitor data, voice, cable and other networks, with a buy rating, and set its 12-month price target at $15.
``Acquisitions and operational improvements should expand margins and drive market share gains,'' analyst Cindy Shaw said in a research note.
Shaw said she is expecting growth in pro forma earnings before interest, tax, depreciation and amortization of between 17 and 26 percent in fiscal 2002 and 2003, respectively.
Shares of Acterna, which was formely known as Dynatech, rose 37 cents, or 4 percent, to $9.52, in Monday morning trade on Nasdaq, off a 52-week high of $42 and above a year-low of $3.25. REUTERS
© 2001 Reuters
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