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Optical/IP

Applause for AlcaLu

5:30 PM -- Michael Genovese, telecom equipment analyst at Soleil Securities Group Inc. , writes in a research note today that "now is the time to buy" Alcatel-Lucent (NYSE: ALU).

"Our checks into the company's North American business suggest strong Wireless demand at AT&T, Verizon, and Sprint," Genovese writes. "We also believe Optical demand is strong at Verizon and ALU is successfully leveraging Wireless success into increased IP/backhaul business at both AT&T and Verizon."

Genovese put a $4-a-share price target on AlcaLu's stock, which closed today up $0.09 (3.38%) to $2.75. All the usual, and some random disclaimers apply.

— Phil Harvey, Editor-in-Chief, Light Reading

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