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Extreme Networks Offers A Solid Buying Opportunity

Investment thesis

Extreme Networks Inc. (NASDAQ:EXTR) provides network infrastructure equipment and services for enterprises, data centers and IT service providers. In July 2014, I wrote that EXTR offered another decent entry point with a ~21% upside and a target price of $5.32. This setup played out well, as the stock hit ~$5.50 a few months later. However, the stock then lost ~50% of its value, proving once again that such a volatile stock in a volatile networking sector needs to be traded in and out based on firm price targets. A similar successful setup played out well in 2013 when my maximum 47% upside target proved to be too conservative due to an…