3Com Corporation (COMS) Message Board

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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00130

-87.0%

Nov 7 9:30 AM EST

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To: Home-Run who wrote (45454)	1/9/2004 7:46:53 PM
From: Home-Run	Read Replies (1) of 45548

UBS Warburg COMS: Reit Neutral 2 - We continue to believe that 3Com's road map toward becoming a tier 1 data networking provider through its relationship with Huawei is solid. We expect a steady flow of new products in 2004 including gigabit ethernet LAN switches and 10Gbps line cards, high end enterprise routers, and security products to solidify this position. 3Com provided better than expected financial model goals, revenue guidance, and joint venture revenue guidance. We have adjusted our model to account for this as our new FY05 and FY06 EPS estimates are ($0.10) and $0.14 which compare to ($0.14) and $0.08 previously. We believe that near term sales challenges will likely persist as 3Com migrates from a business model that focused on selling high volumes of low end products which have short sales cycles to one using large system integrator partners addressing larger enterprises which have longer sales cycles. Given the improved revenue outlook, our new $10.25 price target is based on our sum of the parts valuation which includes $6.50 for enterprise networking, $0.25 for connectivity, $0.50 for its Huawei JV, and $3 in excess cash. finance.lycos.com

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