Monday February 7, 8:32 am Eastern Time
Company Press Release
SOURCE: WR Hambrecht + Co
WR Hambrecht + Co Initiates Coverage of ADC Telecommunications (ADCT) With Market Outperform and Target of $100
Communications Infrastructure Supplier Projected to Benefit From Growth Of Broadband
SAN FRANCISCO, Feb. 7 /PRNewswire/ -- The following is being issued by WR Hambrecht + Co, a member of the National Association of Securities Dealers, CRD number 45040:
WR Hambrecht + Co, the online investment bank, today initiated research coverage on ADC Telecommunications (Nasdaq: ADCT - news) with a Market Outperform, the firm's highest rating, and a $100 price target. In his research report, WR Hambrecht + Co's eNetwork Infrastructure analyst Tim Savageaux cited ADC's strong new product pipeline and discounted value relative to other communications equipment vendors as key reasons for the rating. WR Hambrecht + Co offers all its research reports free and real-time at www.wrhambrecht.com.
ADC Telecommunications, Inc. provides hardware and software systems and integrated solutions that enable customers to build and upgrade communications networks. ADC's products include hardware and software systems and integrated solutions.
``ADC Telecommunications most recent quarter demonstrates a return to accelerating growth rates. The firm's strong presence in broadband access and transport, combined with explosive demand in this sector, provides significant upside potential to investors,' Savageaux said.
Savageaux projects ADC's total revenues will reach $2.4 billion in fiscal 2000 and $3.1 billion in fiscal 2001, up from $1.9 billion in fiscal 1999.
About WR Hambrecht + Co
WR Hambrecht + Co is an online investment bank founded by Silicon Valley pioneer Bill Hambrecht. The company is dedicated to leveling the playing field for investors by using technology to provide transparency in capital markets. The firm leverages its expertise in the technology arena to find early investing opportunities for its clients. WR Hambrecht + Co is active in investment banking, electronic brokerage services, private equity, mergers and acquisitions advisory services, research, trading and electronic underwriting through its OpenIPO system.
SOURCE: WR Hambrecht + Co
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