Ciena (CIEN) Message Board

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Technology Stocks : Ciena (CIEN)

CIEN 201.46

+2.9%

Nov 6 4:00 PM EST

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To: jhg_in_kc who wrote (11061)	5/23/2001 12:07:55 PM
From: Rustam Tahir	Read Replies (2) of 12623

Here's MSDW's note on CIEN: We downgrade CIEN from an Outperform-V to a Neutral-V rating. We recognize that CIEN remains the best-positioned company in the optical sector. However, our valuation work suggests the stock has limited upside from current levels. • We believe Sprint’s spending is at risk. Our industry checks indicate that Sprint could delay network upgrades. We estimate that Sprint accounted for 20-30% of CIEN’s C1Q01 rev. • We believe the AT&T metro DWDM contract is worth roughly $40-50MM. We believe the contract was baked into mgmt’s C2001 guidance. We expect AT&T to announce in the next few months an optical switch contract with CIEN.

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