Redback Networks, Inc. (RBAK) Message Board

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Technology Stocks : Redback Networks, Inc. (RBAK)

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To: William F. Wager, Jr. who started this subject	7/13/2000 7:29:23 PM
From: MarkR37	Read Replies (1) of 1956

LEHMAN SAYS UPS REDBACK NETWORKS <RBAK.O> YR-END PRICE TARGET TO $200 FROM $160 NEW YORK, July 13 (Reuters) - Lehman Bros. said analyst Steve Levy on Thursday raised his price target and earnings and revenue outlook for computer networking systems company Redback Networks Inc. <RBAK.O> after the company posted strong second quarter results on Wednesday. -- Levy raised his fiscal year-end 2000 price target on the company to $200 from $160 and 2000 and 2001 revenue estimates to $230 million and $525 million from $191 million and $440 million, respectively. -- He raised his EPS estimates to 2 cents in 2000 and 54 cents in 2001, versus prior estimates of a loss of 17 cents in 2000 and 46 cents in 2001. -- He said the company ended the quarter with a positive book-to-bill ratio as well as its best visibility ever. -- He also said revenues exceeded his expectations by 21 percent and the bottom line loss per share was only 5 cents versus his estimate of 10 cents. -- Shares of Redback closed at 156-1/2 on the Nasdaq exchange Thursday. Their 52-week range is 198-1/2 - 35. DBAB UPS REDBACK<RBAK.O> 2000 EPS VIEW TO $0.01/SHR LOSS FROM 0.25/SHR LOSS NEW YORK, July 13 (Reuters) - Deutsche Banc Alex. Brown said on Thursday it raised earnings estimates on computer networking systems company Redback Networks Inc. <RBAK.O> after the Internet infrastructure provider posted stronger-than-expected second-quarter results. In a research note, DBAB analyst George Notter: -- raised 2000 earnings estimates from to 1 cent per share loss from 25 cents per share loss. -- raised 2001 estimates from 30 cents per share to 50 cents per share. -- continued to rate shares a buy -- said revenue expectations increased but "stock's valuation remains lofty". -- Redback shares were up 8 percent at 169-3/8 in mid-morning trading on Nasdaq.

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