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Technology Stocks : Brocade Communications Systems,Inc. (Nasdaq-BRCD) -- Ignore unavailable to you. Want to Upgrade?

To: Neville H. J. Gorman who wrote (446)	2/18/2000 2:01:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1583

Comments: CEO Reyes , Morgan Stanley, Ashok Kumar (Piper Jaffray) Neville, Brocade's CEO Reyes Chief executive Greg Reyes said in the report "growth reflects the market momentum and our continued investment in channel expansion. We signed two additional (original equipment manufacturers) in the first quarter, Amdahl and HP, which increased our OEM channel penetration to more than 90 percent." George Kelly & Gillian Munson (Morgan Stanley) Morgan Stanley Dean Witter upgraded the stock to "strong buy" from "outperform" today and set a 12-month price target of $350. "The company has a superior management team who has proven that it can deliver on aggressive strategic and operational goals," Morgan Stanley analysts George Kelly and Gillian Munson said in a research report. Ashok Kumar - Piper Jaffray "Brocade is one of the best-positioned companies to emerge as a principal fiber-channel switch vendor," Kumar said in his report. Kumar estimates the company will generate $180.5 million in revenue for fiscal year 2000, compared with last year's $68.7 million. He noted that revenue could reach $200 million.