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Technology Stocks : Ciena (CIEN)

CIEN 199.26

-1.1%

Nov 7 4:00 PM EST

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To: jghutchison who wrote (11058)	5/23/2001 8:41:33 AM
From: jghutchison	Read Replies (1) of 12623

The weak become weaker as the strong become stronger. W. R. Hambrecht & Co. rbak: Management Transitions Continue with CEO Resignation In a development that we believe will be met with mixed interpretations, Redback Networks announced yesterday after the market close that CEO Vivek Ragavan had resigned from the company. We are maintaining our Buy rating and $20 price target, with a continued focus on the company’s sizeable major carrier customer base and long-term growth prospects in the metro optical networking and IP edge infrastructure markets. We do believe the shares could see some near-term weakness in the face of the CEO departure and back-end loaded quarterly outlook, with more attractive entry points in the mid-teens.

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