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Technology Stocks : Oclaro, Inc. (Avanex-Bookham) -- Ignore unavailable to you. Want to Upgrade?

To: Netstockfiend who wrote (749)	10/13/2000 2:51:24 PM
From: LJM	Read Replies (1) \| Respond to of 2293

SAN FRANCISCO, Oct. 13 /PRNewswire/ -- The following is being issued by Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271: October 13, 2000Avanex Corporation (Nasdaq: AVNX) ($81.86) Buy Paul Johnson, Communications/Networking "We believe there exists an attractive opportunity for next-generation Optical networking vendors and further believe that Avanex will emerge as one of the critical vendors in this market," said Johnson. "We feel that the recent market pullback has created an opportunity to create a position in Avanex shares, at a significant discount to recent trading levels, with only positive changes to the competitive fundamentals having occurred. Furthermore, the stock also trades at an attractive valuation when compared with its most important comparables, in our view. Avanex has produced excellent revenue growth during the past several quarters, and we expect this to continue for the foreseeable future. In addition, gross margins have progressed nicely, and we believe the company could reach its three-year target by next year, two years ahead of schedule. In addition, we believe the company has made a couple of smart additions to senior management over the past quarter, as well as closing a strategic acquisition."