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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 689.53-0.8%Feb 3 4:00 PM EST
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To: Johnny Canuck who wrote (35270)11/26/2001 1:47:43 PM
From: Johnny Canuck  Read Replies (1) of 70421
 
Brocade Comms (BRCD) 30.86 -0.51: -- Morning Note -- Needham Research downgrades BRCD to HOLD from Buy on valuation; believes business conditions in the storage-networking sector since 9/11 have improved modestly but not enough to justify the recent run-up in price. Other factors that contributed to Needham's downgrade include checks that suggest the delivery of its Core switch has been gradually slipping and concerns over the eventual entry of CSCO as a direct competitor, perhaps by the end of 2002/2003.


JDS Uniphase (JDSU) 11.56 -0.15: -- Intraday -- McDonald Investments upgrades JDSU to BUY from Hold and establishes a new PT of $18 after a recent meeting with management. McDonald expects an upbeat analyst meeting on 12/11 and believes JDSU has done a credible job of restructuring the optical component system; gives company a reduced break-even quarterly rev run-rate of $350 mil [company can achieve estimate in the June or Sept 2002 qtr]. McDonald stresses they are not timing the recovery of the industry; rather, they see some positive signs and rate JDSU as one of the most leveraged vehicles on which to ride the recovery. Additionally, Roth Capital Partners maintains their Buy rating on JDSU on the positive implications that a Govnet [essentially a back-up Internet for the govt] implementation could have on the telecom industry.
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