Sycamore Networks Inc-(SCMR) Message Board

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Technology Stocks : Sycamore Networks Inc-(SCMR)

SCMR 0.226

0.0%

Nov 30 4:00 PM EST

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From: bob zagorin	6/27/2006 2:35:22 PM
	of 2249

Sycamore Networks (SCMR ) : Cuts to 2 STARS (sell) from 3 STARS (hold) Analyst: Kenneth Leon, CPA (S&P) Shares are up over 11% year to date due, in our opinion, to investors' view of Sycamore Networks's sustained profitability. However, we think the company's products for optical networking will remain weak. Lucent Technologies (LU ), the market leader, showed a 23% sequential decline in optical sales in the December quarter. Thus, we are lowering our fiscal year 2006 (ending July) sales estimate for the company to $100 million from $120 million, and our EPS estimate to 10 cents from 11 cents. Our 12-month target price declines to $4 from $4.50. We view shares as unattractive at 14.6 times our 2006 sales estimate.

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