Credit Suisse First Boston Announces Investment Opinion on Next Level Communications.PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--Dec. 6, 1999-- Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. Initiates Coverage of Next Level Communications with a Buy Rating Credit Suisse First Boston Technology Group research analyst Jim Parmelee initiated coverage of Next Level Communications (NXTV) with a Buy rating and a 12 month price target of $85. EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. estimates for FY99, FY00 and FY01 are ($0.93), ($0.83) and ($0.49), respectively. Next Level Communications is a primary beneficiary of the growth in broadband access equipment with projected revenue of $105M in 2000 and $200M in 2001. "Stock catalysts for H1:00 include additional broadband system deployments by USW USW Und So Weiter (German: and so on) USW Undersea Warfare USW United Steel Workers USW US Wheat Associates USW Ultrasonic Welding USW Ultra Short Wave USW US West Telecommunications (stock symbol) , momentum in ADSL See DSL. ADSL - Asymmetric Digital Subscriber Line installs, and new independent telco customer wins," wrote Parmelee in a research note issued this morning. "For H2:00, potential exists to sign an additional RBOC/PTT class account for a broadband equipment contract". Projected Q4:99 is tracking favorably to Parmelee's $20M top line and ($0.22) EPS estimate. Next Level has signed 10 additional independent telco customers during the last month, and Parmelee believes potential exists for Next Level to exceed his top-line and gross margin targets. Credit Suisse First Boston is a leading global investment banking firm, providing comprehensive financial advisory, capital raising, sales and trading, and financial products for users and suppliers of capital around the world. It operates in over 60 offices across more than 30 countries and has over 14,000 employees. For the year ended December 31, 1998, CSFB CSFB Credit Suisse First Boston CSFB Cyclically Shifted Filter Bank had $6.7 billion in revenues, $7.1 billion in equity and $291 billion in assets. The Firm is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Zurich-based Credit Suisse Group. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. |
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