Ceragon Networks (NASDAQ: CRNT) was upgraded by Oppenheimer from Perform to Outperform Friday causing the stock to spike almost 8% on the news. the rating firm cited strong earnings and order for 4G equipment from Verizon that hinted the trend would continue. Ceragon provides wireless backhaul solutions that enable service providers to deliver high quality data services on their networks.
Ceragon closed Friday at $11.06 - above its key moving averages. The company has hit a 52-week high of $13.29 in recent months.
The networking company recently reported earnings of $0.13 per share, beating analyst estimates of 12 cents per share. The company reported revenue of $62.2 million.
The stock is trading fairly even today.
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