RBAK --
from the news:
REDBACK REDUX
Networking veteran Larry Blair, vice president of marketing with Redback Networks (Nasdaq: RBAK), emerged as the darling of his time slot, which pitted Redback against Excel Switching (Nasdaq: XLSW) and BreezeCom. With Napoleonic aplomb, Mr. Blair -- a veteran of early '90s networking startup stars Kalpana and Ipsilon Networks -- held an overflowing ballroom transfixed with a PowerPoint presentation of Redback's single access platform.
Redback is the Sunnyvale, California-based provider of networking boxes that enable carriers, cable multiple system operators (MSOs), and service providers to rapidly deploy broadband access to the Internet and corporate networks. The company's Subscriber Management Systems (SMS) connects and manages large numbers of subscribers using any of the high-speed access technologies, such as DSL, cable, and wireless.
On July 23, with the stock around $154 per share, Piper initiated coverage with a Buy recommendation and a price target of $170 within 12 to 18 months. Trading during the conference around $190 per share, the stock has proven to be hotter than even Piper predicted. Mr. Leifur says that an update recommendation will be out shortly. After the conference ended, Redback exploded in Friday trading, rising to $220, up $30 (15.8 percent) from Thursday's close.
"The winners in this market will be the ones who offer three things: scalability, an effective provisioning model, and low cost of corporations," said Mr. Blair, breaking the spell of his enraptured audience.
Applause! And that's about as frenzied as this crowd got. Only keynote speaker Geoffrey Moore, who actually inspired 15 seconds of sustained laughter, topped Mr. Blair's effect on the crowd.
L.
ps:This is why I think RBAK will blow up. You can't put a price on a good salesman. |
