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Technology Stocks : Nortel Networks (NT)
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To: Kenneth E. Phillipps who wrote (2944)6/26/1999 9:22:00 AM
From: Paul Lee  Read Replies (3) of 14638
 
AXXel Knutson's Market Letter 6/25/99 [Non-Internet-Non Dow] 6.25.99
Date: 6/25/99 6:47:11 PM Eastern Daylight Time
From: stockopn@webspan.net (AXXel Knutson)

Nortel [NT-84 3/8] it's doubtful that we will see a break of $80 for a buy
point so we will rank this "accumulate" at this stage and a "Strong Buy"
upon a break of $80. From CNET News 6/18/99: "Nortel has seen its shares
rise from the high 20s in October to the high 80s today. This is proof,
analysts say, that the company--which operates in the hotly contested
equipment market for data, voice, and wireless networks--had been
undervalued following its acquisition of Bay Networks. In comparison, others
in the networking sector such as Lucent and Cisco have been trading in a
short range recently, while erstwhile entrants such as Newbridge Networks
and 3Com have been fraught with financial woes." We agree with the comment
above…LU the leader in data transmission and CSCO in voice…but here is NT
and the valuation suggests a bargain vs. those two.
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