To: bcolohan who wrote (326 ) 3/3/2000 9:00:00 AM From: Manx Respond to of 1658
Friday March 3, 8:31 am Eastern Time Company Press Release SOURCE: WR Hambrecht + Co WR Hambrecht + Co Reiterates Market Outperform Rating for Terayon, Increases Price Target to $300 Broadband Supplier Projected to More Than Double Revenues in 2000 SAN FRANCISCO, March 3 /PRNewswire/ -- The following is being issued by WR Hambrecht + Co, a member of the National Association of Securities Dealers, CRD number 45040: WR Hambrecht + Co, the online investment bank, today increased its price target for Terayon (Nasdaq: TERN - news) from $200 to $300. eNetwork Infrastructure analyst Tim Savageaux cited Terayon's continued financial momentum and attractive relative valuation as reasons for the increased price target. ``We believe Terayon continues to demonstrate a strong current pace of business, and its transition from pure play cable modem supplier to integrated broadband access systems vendor is likely to significantly broaden its market presence,' Savageaux said. ``We believe market concerns about the company's cable modem standards process and its relationship with Rogers Communications is overdone. We believe this presents a buying opportunity for investors.' Savageaux projects Terayon's total revenues to reach $229 million in 2000, up from $97 million in 1999. Terayon Communication Systems develops, markets and sells cable modem systems that enable cable operators to cost-effectively deploy reliable two-way broadband access services. About WR Hambrecht + Co WR Hambrecht + Co (www.wrhambrecht.com) is an online investment bank founded by Silicon Valley pioneer Bill Hambrecht. The company is dedicated to leveling the playing field for investors by using technology to provide transparency in capital markets. The firm leverages its expertise in the technology arena to find early investing opportunities for its clients. WR Hambrecht + Co is active in investment banking, electronic brokerage services, private equity, mergers and acquisitions advisory services, research, trading and electronic underwriting through its OpenIPO system. SOURCE: WR Hambrecht + Co More Quotes and News: Terayon Communication Systems (NasdaqNM:TERN - news) Related News Categories: banking, internet, telecom