NEW YORK-Banc of America Securities upgraded its communications equipment sector outlook from neutral/negative to positive, according to Forbes.
The firm indicated it expects the sector’s stocks to rebound and that it is upbeat on the handsets and networking sectors. Bank of America called Qualcomm Inc., Motorola Inc. and Nokia good picks in the handset sector, while Cisco Systems, Juniper Networks and Foundry networks are good picks in networking. Top sector picks are Nokia and Qualcomm with buy ratings. Ciena and Lucent are at the bottom of the firm’s list with neutral ratings.
