Wachovia Keeps 'Strong Buy' on Advanced Fibre
Wachovia reiterates strong buy on Advanced Fibre (AFCI ).
Analyst Richard Church says the acquisition is positive for the company as it expands its addressable market and provides it with the technology that is important to carriers as they focus on enabling new services and lowering costs of networks. He notes the acquisition is expected to be completed in the second quarter.
Church believes the comany's new product, Telliant 500, already is shipping for revenue to a handful of customers. He sees $0.34 2002 earnings per share and $0.50 for 2003. Church maintains his $25 target.