Nokia (NOK) Message Board

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Technology Stocks : Nokia (NOK)

NOK 6.270

-1.4%

Dec 12 9:30 AM EST

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To: foundation who wrote (9053)	1/30/2001 11:12:24 AM
From: Michael Gaudet	of 34857

Her's what they actually said: Based on our cut in EPS 2001 estimates, we see the immediate downside to share price to EUR32 or $28 (but retain our intermediate and long term Buy opinion). This is based on a 1.5x PEG, or around 37x a revised EPS estimate of $0.85. In the long term, we believe Nokia deserves to trade back up to between $50 to $60 or a PE of 40 to 50x (PEG 1.5x to 2.0x). We are not changing our 5 year earnings growth estimate of 25% given that we believe in Nokia's goal to grow its business by between 25% and 35% through 2003. (A. Ahmad/A. Shutze)

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