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Technology Stocks : PairGain Technologies

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To: Doug Bean who wrote (26866)11/2/1998 6:04:00 PM
From: Louis Riley  Read Replies (2) of 36349
 
VOLPE BROWN REITERATES STRONG BUY

From briefing.com:

15:06 ET CIENA Corp (CIEN) 20 15/16 +3 3/4 (+22%): --Update-- Volpe Brown Whelan calling rally in CIEN overdone, as any potential near-term positives are already fully discounted. Notes that while stock has declined from the low-$90s, estimates have also fallen nearly 80% during the same period from $1.75 to $0.40 (FY99). Moreover, Volpe says acquisition of CIEN at current levels would be massively diluted for all but the largest acquirer. Based on major new contracts and new product cycles, firm believes Advanced Fibre (AFCI +17%) and PairGain Tech (PAIR +45%) are much more visible. Firm currently rates CIEN "neutral," AFCI "buy" and ,PAIR "strong buy."

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