Redback Networks, Inc. (RBAK) Message Board

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Technology Stocks : Redback Networks, Inc. (RBAK)

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To: Michael Wilson who wrote (1325)	11/30/1999 12:59:00 PM
From: William F. Wager, Jr.	of 1956

RESEARCH ALERT - Redback Networks raised NEW YORK, Nov 30 (Reuters) - U.S. Bancorp Piper Jaffray said on Tuesday it upgraded Redback Networks Inc. (NasdaqNM:RBAK - news) to strong buy from neutral. -- said raised price target to $175 from $110 a share. -- said raised the fiscal 2000 earnings estimate to 23 cents a share on revenues of $140 million, from a previous estimate of 20 cents a share on revenues of $122 million. -- said set 2001 earnings estimate of 73 cents a share on revenues of $260 million. The estimates do not include Redback's planned merger with Siara Systems. -- said Redback's pact to merge with Siara will expand ``addressable market tenfold.' -- said its core business is ``extremely strong.'

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