Blatant re-post from 5/15/98 RedHerring
[because it may have gotten lost in the recent flurry and goshdarnit I just love the following quote]
Excerpt: "As Mr. Stix concluded, "Ascend's got more product orders in their future than we have in our model."
herring.com
ANALYST UPDATE: PUTTING TELECOM IN PLAY
By Peter D. Henig, May 15, 1998
Promises, promises
Ascend Communications (ASND) was also given the
nod as Cowen & Co. took it from Buy to Strong Buy
and DLJ raised it from Market Perform to Buy. Analyst
Chris Stix with Cowen & Company said that he had
raised his price target on Ascend to $55 due to
"exceptionally strong product positioning which the
company has in carrier ATM with its GX550 product."
Mr. Stix indicated that the company recently won sales
with Williams (WMB), AT&T (T), GTE (GTE), Qwest
(QWST), and NTT (NTT) and that Ascend is likely to
win more outstanding deals.
"Ascend will meet or exceed our expectations,"
promised Mr. Stix. "As we exit the year, we expect
Ascend to show a 40 percent year-over-year growth
and thus it deserves a premium price-earnings ratio as
one of the faster-growing players in Internet
infrastructure." Ascend has made a swift comeback from
the low 20s when it missed its September quarterly
numbers, but then made the December quarter, and beat
the March quarter. As Mr. Stix concluded, Ascend's got more product orders in their future than we have in our model."
c Herring Communications |
