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Short Take: CSFB rates Phone.com "strong buy"

Investment bank Credit Suisse First Boston initiated coverage with a "strong buy" rating of Phone.com, which has developed technology allowing wireless service providers to offer Internet access. CSFB financial analysts Marc Cabi and Kristen Koh set a 12-month price target of 100 a share for the stock. Formerly known as Unwired Planet, Phone.com shares have traded as high as 69 and as low as 32.25 since going public in June.

Investment bank Credit Suisse First Boston initiated coverage with a "strong buy" rating of Phone.com, which has developed technology allowing wireless service providers to offer Internet access. CSFB financial analysts Marc Cabi and Kristen Koh set a 12-month price target of 100 a share for the stock. Formerly known as Unwired Planet, Phone.com shares have traded as high as 69 and as low as 32.25 since going public in June.