Oclaro, Inc. (Avanex-Bookham) Message Board

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Technology Stocks : Oclaro, Inc. (Avanex-Bookham)

OCLR 8.260

0.0%

Dec 10 4:00 PM EST

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To: Techplayer who wrote (939)	11/14/2000 1:03:38 AM
From: r.edwards	Read Replies (1) of 2293

3 While investors’ attention has recently begun to focus on some fundamental risks evolving in the communications equipment market, we believe Avanex remains extremely well-positioned to win business in the optical networking revolution and the company’s business fundamentals continue to accelerate. The healthy book-to-bill ratio signals strong demand for the company's photonic processors and we believe that these trends should continue. Avanex's main customers are high-quality names with little exposure to service providers that could have problems raising capital, which leads us to believe that the company's customers should continue to demand these enabling building blocks for next-generation networks. Avanex shares have pulled back recently more than 40% from the recent high on September 5 of $158.25 to close at $90.00 on October 18. We encourage investors to build positions in AVNX shares, as the demand for high-quality, next-generation optical networking components and systems continues to accelerate. We reiterate our 1 Buy rating and 12-month price target of $250, or 62 times our CY01 revenue projection. VALUATION AND RECOMMENDATION

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