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T. Weisel Ups Advanced Fibre to 'Outperform'

Thomas Weisel upgraded Advanced Fibre Communications (AFCI) to outperform from peer perform.

Analyst Jason Ader says in the last 30 days the company's engagement with regional bell operating carriers has reached an inflection point, with the expected result of double-digit growth in 2004 sales. He says he's no longer concerned that the company's position at Verizon has slipped due to an architectural shift toward digital subscriber line access multiplexers, or DSLAMs; Advanced Fibre is now shipping DSLAMs to Verizon, and has secured a second source design win for next-generation DSLAMs. He notes a recent pickup in orders, yielding better visibility.

Ader raised the 38 cents 2004 earnings per share estimate to 50 cents, and raised the $352 million revenue estimate to $370 million.

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