Ruckus (RKUS) +4.3% on an upgrade to Buy from Needham 's Richard Valera, who strongly defends...

|About: Ruckus Wireless (RKUS)|By:, SA News Editor

Ruckus (RKUS) +4.3% on an upgrade to Buy from Needham 's Richard Valera, who strongly defends the company in the face of its ~50% spring decline. While granting a recent lockup expiration could pressure shares, Valera sees Ruckus'  "competitive differentiation as intact, its enterprise business as unaffected by the bundling tactics of Cisco in the high-end enterprise market, and ... its opportunity in the high-growth service provider Wi-Fi market as undiminished." Lazard cut shares to Neutral earlier this month in response to Ruckus' Q1 miss and light Q2 guidance.