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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Rob Riordan who wrote (13124)	8/31/1999 10:22:00 AM
From: pat mudge	Read Replies (2) \| Respond to of 18016

MSDW lists price target as $36: The Morning Call reads: Alkesh Shah is initiating coverage of NEWBRIDGE NETWORKS with an Outperform rating and a price target of $36, 27 times our C2000 earnings estimate of $1.33. With the recent acquisition of Ascend Communications by Strong Buy-rated LUCENT, Newbridge Networks is the last Asynchronous Transfer Mode (ATM) pure-play for investors. Its key product, MainStreetXpress 36170, accounts for the majority of its sales and is its fastest growing revenue stream. The company missed consensus estimates a number of times over the past 12 months, and is now rebuilding credibility with investors. Alkesh believes management is solving the production problems that hindered growth and is beginning to articulate a clear strategy of diversifying into Internet Protocol (IP) based products. However, Alkesh expects that multiple expansion will occur only with more consistent revenue and earnings growth.