Stock Watch: Exodus Makes Bigger Push Into Japan

Shares of Exodus Communications (Nasdasq: EXDS), an applications service provider that offers Internet system and network management solutions for e-commerce businesses such as eBay, climbed 2 to 108 in early trading today after the company said that it is teaming up with Nomura Research Institute to create an Internet data center in Japan.

It has been a busy week for Exodus. Last Tuesday, the company announced that it will acquire KeyLabs, which provides e-business testing services. That news prompted Robertson Stephens to raise its price target on Exodus to $168 and reiterate its buy rating on the stock.

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