RBC Capital Downgrades Redback (RBAK), Says Takeover Not Imminent

According to Barron's Tech Trader blog, RBC Capital cut its rating on Redback Networks (Nasdaq: RBAK) today from Outperform to Sector perform, citing valuation. The analyst also said they do not believe a takeover is imminent.

The analyst said Cisco (Nasdaq: CSCO) and Juniper (Nasdaq: JNPR) are unlikely suitors given product overlap, Alcatel-Lucent (NYSE: ALU) is working on an improved switch fabric and Motorola (NYSE: MOT) may have its hand full. Link to Barron's