Rockwell-Spins off Conexant (CNXT) Message Board

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Technology Stocks : Rockwell-Spins off Conexant (CNXT)

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To: LJM who wrote (232)	6/16/1999 1:16:00 PM
From: w molloy	Read Replies (2) of 2013

Wednesday June 16, 11:27 am Eastern Time RESEARCH ALERT-Conexantprice target raised NEW YORK, June 16 (Reuters) - Lehman Brothers said Wednesday it raised Conexant Systems Inc's (Nasdaq:CNXT - news) price target to $65 from $51. -- raised earnings per share estimates for 1999 to $0.42 from 0.26 and raised its 2000 estimates to $0.93 from $0.68. -- On June 8, Conexant said that fiscal third quarter results would easily exceed current estimates. -- Total company revenue is expected to grow at least 15 percent sequentially, versus our estimate of 9 percent sequential growth. -- The upside surprise is being driven by strong demand for the company's Network Access products as well as better than expected demand and firmer pricing in its analog modem business. -- The Network Access business should experience sequential growth in excess of 45 percent versus our estimate of 25 percent. -- The Personal Computing business should grow 5-7 percent sequentially versus our estimate of an 8 percent decline. More Quotes and News: Conexant Systems Inc (Nasdaq:CNXT - news) Related News Categories: US Market News

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