Needham & Company reiterates a 'Buy' rating on Network Engines (Nasdaq: NENG), lowers PT from $4 to $3.

Needham analyst says, "Overall, we believe NENG continues to generate notable growth in its business, and we view its September outlook as a temporary pause and not a fundamental problem. Looking forward, we expect the model to resume very solid growth starting in 1HF11 through previously announced wins that include: (1) a notable communications program ramp; (2) a smaller, but significant ($10M+/yr) incremental program ramp with its largest customer; and (3) business driven through the Dell DC Power system (i.e., E710 line) among others."

now to get this at a low...and it sure looks like it could get lower....patience is a virtue