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Monday, August 06, 2007 Ceragon (CRNT) wins a backhaul agreement with Sprint Nextel Corp
Unterberg: WiMAX propels Ceragon, Alvarion C.E. Unterberg sees Ceragon gaining from FiberTower's win with Sprint Nextel. Globes correspondent 5 Aug 07 16:29
C. E. Unterberg, Towbin has published updated reviews on Ceragon Networks Ltd. (Nasdaq: CRNT; TASE:CRNT), and Alvarion Ltd. (Nasdaq: ALVR), both of which it believes will be key players in the growing WiMAX market. Reiterating its "Buy" rating and target price of $16 for Ceragon, C.E. Unterberg, Towbin says "FiberTower announced that it had won a backhaul agreement with Sprint Nextel Corp (NYSE: S) to provide backhaul services in seven of Sprint’s initial WiMAX launch markets, leveraging Ethernet-based backhaul technology, a first for any mobile backhaul provider. Sprint plans to launch its WiMAX service in Chicago, Baltimore and Washington late 2007/early 2008 and begin initial service deployment by April 2008.
According to our contacts, Ceragon will be the major benefactor of any new deployments by FiberTower to support the Sprint project. In addition, we believe Ceragon is well-positioned to benefit from growth in the emerging WiMAX market worldwide. "
-------------------- This is not a recommendation to buy or sell securities.
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