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To: H James Morris who wrote (138403)	2/2/2002 5:20:52 PM
From: H James Morris	Respond to of 164684

Bill, why did stop pumping Ciena? siliconinvestor.com >>2/1/2002 2:55:55 PM UBS lowers Ciena price target to $16 Ciena (CIEN) is losing 65 cents, or 5.1 percent, to $12.05, in late action. Shares of the Linthicum, Md., fiber optics firm is selling off after UBS Warburg lowered its estimates 2002 and 2003 due to continued market weakness and stiffer competition. The firm maintained its "hold" rating on Ciena, but it lowered its price target to $16 per share from $19. UBS cited the recent financial reports of other players in the fiber optics sector such as JDS Uniphase (JDSU) and Nortel (NT) as evidence that the market remains sluggish. One potential competitior cited by UBS was Lucent (LU), which the firm said is making a push into Ciena's core long-haul market.