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Tut Systems gains on analyst comments

    It took a little while, but Tut Systems finally got some mileage out of last week's analyst meeting, gaining $4.75, or 16 percent, to $35.31 Thursday after a pair of analysts issued some favorable comments.

    Tut Systems (Nasdaq: TUTS) shares soared up to a 52-week high of $120.38 in August before sliding to a low of $25.13 in October.

    On Monday, Lehman Brothers analyst Steven Levy reiterated his "buy" recommendation following Tut System's Friday meeting.

    "The highlight of the day was the launch of Tut’s IntelliPOP platform which doubles Tut’s addressable market," Levy wrote in a research note Thursday. "In addition to offering bandwidth, service providers can offer services such as video and data to the building tenants when using the IntelliPOP platform."

    Robertson Stephens analyst Paul Johnson also reiterated his "buy" rating Monday.

    "We believe there is an opportunity for upside surprise in revenues and earnings as the market for broadband access continues to develop and accelerate over the next few years," Johnson said in a research note. "We believe Tut Systems will have the opportunity to fully exploit the market's development."

    Last quarter, Tut Systems beat the Street when it posted a profit of $1.9 million, or 11 cents a share, on sales of $28.6 million.

    First Call Corp. consensus expects it to earn 17 cents a share in its fourth quarter and $1.44 a share in the fiscal year.

    All eight analysts tracking the stock maintain either a "buy" or "strong buy" recommendation.