BARS upgrade for NN
(via NN thread)
[Inserting ASND for NN in each statement below seems to work well too...]
BancAmerica Robertson Stephens Initiates Coverage on Newbridge Networks
SAN FRANCISCO, May 29 /PRNewswire/ -- BancAmerica Robertson Stephens
research analyst Paul Silverstein initiated coverage today on Newbridge Networks Corporation (NYSE:NN - news)
with a Buy rating.
''Newbridge is emerging as one of the leading vendors of WAN telecommunications networking equipment in the
public carrier market, and is one of only a handful of companies that can meet the needs of existing telecommunication
carriers and emerging telecommunication networking service providers,'' said Silverstein.
''We believe Newbridge is well positioned to capture a large share of future spending by the world's carriers on
integrating multiple legacy data and voice overlay networks on a single ATM multi-services platform.''
He believes there is opportunity for upside surprise in Newbridge's revenues and earnings as telecom carriers -- driven
by exploding end-user bandwidth demand and intense competition spurred by deregulation -- continue to transition their
WAN telecommunication networks to next generation ATM-based multi-service architectures. Silverstein sees WAN
ATM switches and related access devices to be one of the fastest growing markets within the networking industry for
the next several years.
''Newbridge is riding the demand wave for next-generation WAN switching with one of the most advanced ATM
multi-services switch product lines and one of the best focused strategies in the WAN equipment industry,'' said Silverstein.
He introduced his 1998 and 1999 EPS estimates of $0.69 and $0.86, respectively.
BancAmerica Robertson Stephens is a leading international investment banking firm focused on emerging growth companies. The firm's 50 senior research analysts cover over 575 companies.
The information contained herein is not a complete analysis of every material fact respecting any company, industry or
security. Although opinions and estimates expressed herein reflect the current judgment of the Firm, the information
upon which such opinions and estimates are based is not necessarily updated on a regular basis; when they are, the date
of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This
Report contains forward-looking statements which involve risks and uncertainties. The Company's actual results may
differ significantly from the results described in the forward-looking statements. Factors that might cause such a
difference include, but are not limited to, those discussed in ''Investment Risks.'' BancAmerica Robertson Stephens
from time to time performs corporate finance services for some companies described herein, and may occasionally
possess material, nonpublic information regarding such companies. This information is not used in the preparation of
the opinions and estimates herein. Facts and other information discussed have been obtained from sources considered
reliable but are not guaranteed. BancAmerica Robertson Stephens, its managing directors, its affiliates, and/or its
employees, may have an interest in the securities of the issue(s) described and may make purchases or sales while this
report is in circulation. BA Robertson Stephens International Limited is regulated by the Securities and Futures
Authority in the United Kingdom. This publication is not meant for private customers. The securities discussed herein
are not FDIC insured, are not deposits or other obligations or guarantees of Bank of America NTSA and are subject to
investment risk, including possible loss of any principal amount invested.
SOURCE: BancAmerica Robertson Stephens |
