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CS First Boston: Still Ride Redback


CS First Boston reiterated its buy rating on Redback Networks (RBAK).

Analyst Lissa Bogaty says she met with upper management and marketing executives for both SMS and SmartEdge last week. While she is cautious on near-term estimates, she believes the company's opportunities position is as strong as ever. Bogaty says Redback is only the second vendor in the next-generation SONET area; others appear far from catching up.

Recent news articles have cited talks between Redback and other companies regarding a potential acquisition. While she has no knowledge of these talks, Bogarty thinks with over 300 customers, a strong position in SMS and an early lead in optical edge, Redback.


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