Company Press Release
SOURCE: BancBoston Robertson Stephens
BancBoston Robertson Stephens Reiterated a Buy Rating on Newbridge Networks
SAN FRANCISCO, Jan. 6, 1999 -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271:
BancBoston Robertson Stephens senior communications equipment analyst Paul Silverstein today reiterated a Buy rating on Newbridge Networks (NYSE: NN - news). Newbridge Networks, based in Kanata, Canada, develops, manufactures, markets, sells and supports a broad family of high-speed digital wide-area networking communications devices.
''We expect Newbridge to continue to successfully execute its turnaround in 1999,'' said Silverstein.
''We expect 1999 drivers for the stock to be:
1) Additional contract announcements, including the company's first US
Department of Defense contract for an estimated $10 million that was
just announced;
2) Continued ramping of existing contracts;
3) New products;
4) Strategic transactions -- both purchases and sales -- including a
number of Newbridge's affiliated companies; and
5) Continued financial leverage from reducing the company's expense
structure," said Silverstein.
BancBoston Robertson Stephens is a leading international investment banking firm focused on emerging growth companies. The firm's 55 senior research analysts cover over 575 companies. Additional information is available upon request. |
