Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

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To: H.A.M. who wrote (57296)	11/17/1998 8:35:00 PM
From: H.A.M.	Read Replies (2) of 61433

'Upbeat' growth seen at Ascend [CBS MarketWatch] Ascend Communications (ASND) shares edged higher after J.P. Morgan analyst William Rabin reiterated his "buy" rating and said the company backed Wall Street's current estimates. Following a meeting with the computer network equipment company's CFO, Rabin said in a research note he believes Ascend's business is strong. He kept his 12-month target price of $65. He said CFO Michael Ashby was "upbeat" about its fundamentals and backed Wall Street's current estimates. Analysts tracked by First Call expect Ascend will earn 32 cents a share in its fourth quarter. Ascend is confident that its core switching business will grow 25 percent in the quarter, Rabin wrote. Ascend also said it expects growth in opportunities overseas over the next two to three quarters. The stock rose 15/16 to 53 15/16. cbs.marketwatch.com

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