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Technology Stocks : NEXTEL
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To: Steve Rolfe who wrote (9372)9/14/1999 9:44:00 PM
From: JF Quinnelly   of 10227
 
NEW YORK, Sept 14 (Reuters) - SoundView Technology analyst Tim O'Neil said he raised the year-end price target on Nextel Communications Inc. (Nasdaq:NXTL - news) to $82 after the company's upbeat meeting with analysts on Monday.

-- said Nextel told analysts that the second half of 1999 and the year 2000 would be strong, led by continued subscriber growth, average revenues per unit in the $70s and expense controls resulting in a doubling of operating cash flow.

-- SoundView said it raised its subscriber estimates for the quarter to 449,000 from 413,000 and raised subscriber growth in 2000
by 33 percent to 1.56 million net additions from 1.1 million net adds.

-- said Nextel changed subscriber guidance. It no longer emphasized that the second quarter is the strongest and the fourth quarter
is the weakest. Nextel now said the third and fourth quarters are expected to be very ''robust'' and it may see a change in fourth
quarter slowdown in buying patterns.

-- said Nextel emphasized it will continue to focus on business markets.

-- said Nextel reiterated it will continue to meet or exceed expectations over next five quarters.

-- said Nextel said its phone usage is extremely strong, averaging 425 minutes of use per month. The New York market has grown 5 percent per week over last two months.
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