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

Reports Terayon (TERN) Is a Takeover Target

Reports from Lightreading.com, Terayon Communication (OTC: TERN) is the target of a takeover bid, with Motorola Inc. (NYSE: MOT) and Cisco (Nasdaq: CSCO) said to be likely suitors. The report said Terayon could be bought for $225-$275 million in the next few weeks. Link