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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Voltaire who wrote (21145)	11/30/2000 2:16:46 PM
From: stockman_scott	Read Replies (1) of 65232

Morgan Stanley on BRCD... Strong Earnings; Reiterate Strong Buy (C. Stix/G. Kelly/G. Munson) BRCD followed through on its tradition of beating published expectations and raising guidance. Revenue was up 42% Q/Q to $132MM vs. our $119MM estimate. EPS of $0.22 beat our estimate by $0.01. BRCD continues to distance itself from competitors. SAN equipment market share increased from 54% in F3Q to 59%. Based on increased guidance and other industry trends, we raise our F2001E and C2001E revenue (for the 8th time since BRCD's IPO) from $686MM and $743MM to $830MM and $909MM, respectively. We reiterate our Strong Buy rating and 12-month price target of $255. Residual income and relative PEG valuation analysis suggests strong upside to today's prices, although the stock is likely to remain volatile for coming months. Regards, Scott BTW, look at how BRCD is one of the few stocks to be UP today....I may pick up some in the next 24 hours. It's an emerging Gorilla in its sector...;-)

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