Lucent Technologies (LU) Message Board

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Technology Stocks : Lucent Technologies (LU)

LU 2.690

-1.5%

9:56 AM EST

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To: Mr.Fun who wrote (11057)	11/12/1999 3:11:00 PM
From: A. Edwards	Read Replies (2) of 21876

DLJ continues to downplay the stock: Nov. 12, 1999 Donaldson, Lufkin & Jenrette Lucent held an upbeat analyst meeting where management reiterated its year 2000 targets of growing sales 3-5% faster than the 14% growth of the overall market while operating income and EPS grow at a modestly faster pace. The company expects the strong growth in optical systems, wireless, professional services, software and microelectronics to offset slower growth in traditional central office switching and enterprise systems. That target is a couple of percent ahead of our longer term growth rate expectations of mid teens growth. While both our mid teens and the company's 17-19% sales growth forecast are impressive for a $38 billion company, we believe that higher growth at lower multiples can be obtained from the more niche oriented companies that are enjoying the strong growth of the optical, access or IP switching/routing markets without exposure to the more mature telecommunications technologies. We believe these companies, rather than Lucent, will be gaining share longer term. If not, dinner is on us. We continue to rate the shares market perform.

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