June 2, 2004
SpeculatingStocks.com Stock Pick: Redback Networks, Inc. (RBAK)
Stock Price: $5.00 (long-term strong buy)
Redback Networks, Inc. is a leading provider of next-generation broadband networking equipment allowing for higher reliability, greater flexibility, lower operational costs and the ability to offer customized services. Redback Networks is involved in building Smart IP Networks.
RBAK should become a major force in the VoIP industry since they are inherently involved and have the technology in place to take a decent share of the market.
China and Thailand companies have selected Redback Network’s IP platform for building broadband networks. Redback’s platform is called SmartEdge Service Gateway System. This flagship product allows for the convergence of voice and data.
After plummeting from over $11 to $4, we believe RBAK is starting to rebound and could run up nicely in the future.
SpeculatingStocks.com Target Price: We expect RBAK shares to rise above $8 by the end of 2004.