FYI : Lehman Brothers upgraded a number of wireless companies today
(*iam not the author)
with an analyst report indicating U.S. market penetration should reach
70% by 2007, significantly higher than the previous 50% estimate.
The report stated, "We have become convinced that wireless adoption
will be higher than our previous thinking, due to: greater
competition, better value, smarter handsets, higher quality
networks, and favorable regulation." Lehman upgraded three
companies, Motorola (NYSE:MOT), Powertel (Nasdaq:PTEL) and Rogers
Cantel Mobile (NYSE:RCN), to Buy from Outperform. The firm also
upgraded Nextel (Nasdaq:NXTL) to Outperform from Neutral,
VoiceStream (Nasdaq:VSTR) to Buy from Neutral, and both Western
Wireless (Nasdaq:WWCA) and Aerial Communications (Nasdaq:AERL) to
Outperform from Neutral. Wireless stocks were up across the board
today, with Motorola up 4 7/8 to 100, Powertel up 3 15/16 to 42,
Rogers Cantel Mobile up 13/16 to 22 1/16, Nextel up 2 11/16 to 63
1/2, VoiceStream up 3 3/16 to 48 13/16, Western Wireless up 2 7/16
to 43 1/4 and Aerial Communications up 1 5/8 to 19.
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