BroadbandFuels ADC


SG Cowen Securities Corp. raised its rating on fiber-optic-equipment maker ADC Telecommunications Inc. last week to "strong buy" from "buy," citing growth at its Broadband Connectivity Group. The investment bank raised its 2000 earnings-per-share estimate on ADC from 90 cents to $1.05, stating that the BCG would have a 5-cent-per-share impact alone. SG Cowen added that revenue growth-which has been in the 20 percent range the past few quarters-would rise to 45 percent in the second quarter. ADC shares were down 3.7 percent April 19, to $50.63 each.