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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (58116)	12/17/1998 5:54:00 PM
From: Tom Gebing	Read Replies (1) \| Respond to of 61433

Comments today from CREDIT SUISSE FIRST BOSTON CORPORATION Equity Research December 17, 1998 Ascend Communications (ASND, $58, STRONG BUY) Target (12 Months):$65 Bernie Schneider, VP and Treasurer of Ascend is resigning (effective at the end of the month) to accept a position as CEO of Digital Broadcast Network (DBN), a national provider of digital video and audio content for the Internet and Intranets; DBN has a national OC3 ATM IP network linking 28 U.S. cities.. View this as a positive move for Mr. Schneider, whose responsibilities will be assumed by both the Assistant Treasurer and the Controller. * Do not anticipate any negative ramifications from the personnel change; Any weakness should be viewed as a BUYING opportunity. · Separately, discussions with management indicate the company entered the quiet period with no change in the positive outlook described at the CSFB Technology Conference (12/3); Estimate the quarter is tracking favorably to our $460 million top-line and $0.31 EPS estimate; Two of the non-core Stratus assets remain on track for divestiture by close of 1998; Third non-core asset to be divested by early 1999. Annual EPS12/99E 1.70 12/98E 1.18 CREDIT SUISSE FIRST BOSTON CORPORATION This memorandum is for informative purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of any offer to buy, any security. While the information contained herein has been obtained from sources believed to be reliable, we do not represent that it is accurate or complete and it should not be relied upon as such. We may from time to time have long or short positions in any buy and sell securities referred to herein. This firm may from time to time perform investment banking or other services for, or solicit investment banking or other business from, any company mentioned in this report.