FS Van Kasper Initiating Coverage on Adaptive Broadband Corporation With a Strong Buy Rating
SAN FRANCISCO, April 6 /PRNewswire/ -- The following is being issued by First Security Van Kasper, a member of the National Association of Securities Dealers, CRD number 7665:
Kevin Dede, Telecommunications analyst at FS Van Kasper, has initiated coverage on Adaptive Broadband Corporation (Nasdaq: ADAP - news), ($40 3/16) with a Strong Buy Rating and a 12-month price target of $70.00.
Below are direct quotations from Mr. Dede's research report:
``We are initiating coverage of Adaptive Broadband Corporation with a Strong Buy rating and a 12-month price target of $70 based on industry growth and rapidly improving company fundamentals.
``Adaptive Broadband's new product, AB-Access, addresses the wireless access market. AB-Access, capable of transmitting data at 25 Mbps, can simultaneously support video conferencing, Web page requests, teleconferencing and downstream video feeds in a point-to-multipoint architecture.
``Divested legacy businesses-a broadband pure play. Adaptive Broadband has concentrated its focus on the development and sale of the AB-Access product. The company has had experience managing the operation of satellite communications, video broadcast and data radio businesses.'
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