SDL gets a boost from Sands Bros.
By Lisa Sanders, CBS.MarketWatch.com
Last Update: 4:26 PM ET Jun 13, 2000 NewsWatch
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NEW YORK (CBS.MW) - SDL got a lift from Sands Bros. Tuesday when the private investment bank initiated coverage of the laser technology company with a ?strong buy? rating.
SDL (SDLI: news, msgs), which sells laser for fiber-optic, cable television, and satellite communications networks, added 21 1/4 to close at 283 1/8 on volume of 7.9 million.
Sands Bros., which assigned a 12-month price target of $345 to the stock, cited as a positive SDL?s focus on higher margin businesses such as pump lasers and modulators. The business strategy has helped the company sustain strong earnings and revenue growth, Sands Bros. noted in its report.
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SDL has also invested heavily in human capital, with more than 60 PhDs on its staff, and research and development.
Also Tuesday, Sands Bros. initiated coverage of JDS Uniphase (JDSU: news, msgs) and Corning (GLW: news, msgs) with ?buy? ratings.
Corning, which makes optical fiber, cable and components among other products, is dominant in the rapidly growing fiber-optic cable market and has a strong position in the amplifier market. Revenue from its expanding photonics segment is expected to grow 70 percent in 2000, Sands Bros. said.
JDS Uniphase, which manufactures laser subsystems and equipment for fiber-optics communications, has a strong management team and is the market leader in the optical components space, Sands Bros noted. It also has a solid strategy for future growth, the firm said.
JDS Uniphase added 5 3/16 to close at 121 3/8, while Corning advanced 9 to close at 242. |
