Tekelec Message Board - Msg: 17505472

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Technology Stocks : Tekelec

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To: BWAC who wrote (1609)	5/23/2002 9:10:18 AM
From: JakeStraw	Read Replies (1) of 1648

WR Hambrecht + Co Initiates Coverage on Tekelec (TKLC) With a Buy Rating And $16 Target biz.yahoo.com SAN FRANCISCO, May 23 /PRNewswire/ -- WR Hambrecht + Co today initiated research coverage on Tekelec (Nasdaq: TKLC) with a Buy rating and a $16 price target. WR Hambrecht's Communications Infrastructure analyst Reginal King believes Tekelec, with a strong balance sheet, robust product suite, and experienced management team, is well positioned to survive the current weakness in capital spending and to take advantage of an acceleration in telecommunications capital expenditures. "Tekelec has a large, diverse and growing customer base and its products offer solutions that solve mission critical problems leveraging the capabilities of wireless, wireline, and Internet networks," said King. "We believe Tekelec is likely to be a leader in the next phase of expansion in the service provider market and is an attractive investment at this time." WR Hambrecht expects Tekelec to report revenues of $312.6 million and EPS of $0.31 for fiscal 2002.

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