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Technology Stocks : Redback Networks, Inc. (RBAK) -- Ignore unavailable to you. Want to Upgrade?

To: William F. Wager, Jr. who wrote (1365)	2/28/2000 8:34:00 PM
From: William F. Wager, Jr.	Read Replies (1) \| Respond to of 1956

RESEARCH ALERT - Redback Networks raised to buy NEW YORK, Feb 28 (Reuters) - Lehman Bros. said it upgraded Redback Networks Inc. (NASDAQ: RBAK) to buy from neutral and set a $325 price target. -- Lehman cited confidence about the positive affect of the Siara acquisition, the company's potentially larger near-term market opportunity for subscriber management systems for network operators, and potential opportunities over the long term from application software sales. -- said raised the 2000 earnings estimate to 40 cents a share from 24 cents a share and raised the 2001 estimate to $1.03 a share from 52 cents a share. -- shares of Redback gained 9-3/16 to 264-1/4 on Nasdaq.