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At least the ML downgrade gave us another buying opportunity. If you look at CDT's fundamentals, this is solid company whose growth is riding on increased demand for bandwidth. Most sales growth has come from enhanced gigabit network cables, wireless products and fiber optics. CDT also saw some nice growth in sales from Europe and Asia ($41.7 million last quarter). CDT's customers include companies such as Akamai, Chase Manhattan, Compaq, Fidelity & Pfizer, plus, we have this past week's announcement of a huge contract with a major telecom provider.

Other noteworthy items occurring so far this year include CDT's joining a research consortium with Cisco, Sony, Cadence, Univ. of Pittsburgh, Carnegie Mellon Univ., etc., as well as CDT's purchase of 85% Industria Tecnica Cavi, a leading Italian manufacturer of coax cable and cables for telecom, robotics, data transmission and other industrial uses.

Downgrade to "near-term neutral" or not, I don't see much downside risk to CDT at Friday's price, and think this one has some great upside potential.

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