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Banc of America reiterates its buy on Redback Networks (RBAK
Analyst Alexander Williamson says Q1 results are slightly ahead of his estimates. He sees a $0.31 2001 loss on revenues of $411 million. He expects SmartEdge to gain market share as IP functionality differentiates Redback from Cisco's Cerent, and gains traction in the second half of 2001. Also, he thinks Subscriber Management Systems sales should accelerate toward the second half with growth in broadband access deployments.
Overall, while Redback isn't completely out of the woods, Williamson thinks the company is well positioned for long-term growth given the market segments its products serve.