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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: JakeStraw who wrote (21686)	9/20/2001 1:26:27 PM
From: puborectalis	Read Replies (1) \| Respond to of 24042

RESEARCH ALERT-CSFB upgrades JDS Uniphase NEW YORK, Sept 20 (Reuters) - Credit Suisse First Boston on Thursday raised its rating on fiber-optic telecommunications equipment maker JDS Uniphase Corp. (Toronto:JDU.TO - news)(NasdaqNM:JDSU - news) to ``buy,'' saying the stock price could remain at current levels for the next 12 to 18 months but rise quickly ahead of a recovery. ADVERTISEMENT CS First Boston analyst Max Schuetz said in a research report that while there is a 30-percent downside risk, analysis favors owning JDS Uniphase at current levels to guarantee participation in an eventual recovery. He set a target price of $9 and said the company's implied bottom share price is $3.80. JDS Uniphase's shares rose almost 8 percent to $6.15 in early trading on the Nasdaq and were still up 4.74 percent, or 27 cents, at $5.97 in late morning trading. However, Schuetz also cut financial estimates for JDS Uniphase, citing expectations for weaker optical equipment and component sales. He reduced his estimates for the company's September quarter to an operating loss of 4 cents a share on sales of $310 million from a 2-cent loss on sales of $380 million. For fiscal year 2002, he cut his forecast to an 8-cent loss on $1.3 billion in sales from a 4-cent profit on $1.6 billion in sales. ``JDS Uniphase's $1.8 billion of cash and negligible debt, as well as the company's critical mass should insure its survival through the current downturn,'' Schuetz said in the report. ``The company is aggressively restructuring and trimming expenses in order to weather the downturn more gracefully.''