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Technology Stocks : Westell WSTL
WSTL 5.550-2.6%Nov 18 3:55 PM EST
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To: Michael F. Donadio who wrote (19887)8/7/2000 8:21:14 AM
From: Anthony Tsai  Read Replies (1) of 21342
 
Kaufman Brothers Reiterates STRONG BUY rating.

"UNFOUNDED SPECULATION SPARKS SELL-OFF IN EFFICIENT AND WESTELL
SHARES-REITERATING STRONG BUY RATINGS

During the last week, negative stories floating around the market knocked 17%
off Efficient's market cap and 28% off of Westell's. The concerns, as near as
we can tell, were threefold: 1) there was too much inventory building up in the
channel, 2) SBC's (SBC $43 15/16) cutover to a new business unit for DSL
provisioning might result in lower subscriber additions and 3) a pending strike
by Verizon (VZ $46 15/16) workers might significantly lower subscriber
additions in the third quarter. We refute each of these below. In our
discussions with management of Westell, we learned that July results were in
line with expectations putting the company on track to achieve Street
expectations for the quarter. As a result, we reiterate our STRONG BUY ratings
on WSTL and EFNT shares."
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