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Morgan Stanley started coverage on shares of Alcatel Lucent (NYSE:ALU) in a research note issued on Thursday, American Banking & Market News reports. The firm set an “overweight” rating on the stock.

The analysts wrote, “The markets for telecom infrastructure now appear more benign in Europe, where Alcatel has a strong presence in fixed,” the report said “In addition, Alcatel has won new contracts with Sprint, China Mobile and China Telecom. The company’s expansion into Routing represents further opportunity for market share, with Alcatel now the main challenger to Cisco and Juniper in the core router and datacenter market.”

Alcatel Lucent (NYSE:ALU) last announced its earnings results on Thursday, October 31st. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.07) by $0.04. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis.

A number of other firms have also recently commented on ALU. Analysts at Deutsche Bank downgraded shares of Alcatel Lucent from a “buy” rating to a “hold” rating in a research note to investors on Thursday. Separately, analysts at Citigroup Inc. upgraded shares of Alcatel Lucent from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, December 10th. They now have a $6.75 price target on the stock, up previously from $5.51. Finally, analysts at HSBC upgraded shares of Alcatel Lucent from an “underweight” rating to a “neutral” rating in a research note to investors on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $3.57.

Alcatel Lucent is engaged in mobile, fixed, Internet Protocol (NYSE:ALU) and optics technologies, applications and services.

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