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Stock Watch: Analyst Recommendation Boosts Virata

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By Nora Macaluso
E-Commerce Times
07/11/00 12:00 AM PT


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Virata Corp. (Nasdaq: VRTA) gained 7 1/2 to 58 1/2 Monday following reports that Banc of America Securities analysts reiterated a strong buy recommendation on the stock, with an expected price target of 150.

Virata recently said it expects a 115 percent increase in revenue Grow Your Business-Fast! Sign up for a FREE trial of Infusionsoft and double your sales in 12 months. for the first quarter ended July 2nd. The company said it shipped three times as many communications processors during the latest quarter as it did a year earlier.

Virata's processors enable users to develop DSL equipment aimed at the high-speed communications market. The company is based in Santa Clara, California.

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