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Technology Stocks : Nokia (NOK)

NOK 6.730

-0.7%

3:59 PM EST

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To: yzfool who wrote (2969)	12/8/1999 8:16:00 AM
From: Neal davidson	Read Replies (2) of 34857

We may have to wait a little while longer. It looks like NOK is taking a hit in Europe due to the ERICY/MSFT venture. NOK down 11 according to Maria. On the other hand, Goldman has raised its target, so that should help a little. biz.yahoo.com Wednesday December 8, 6:16 am Eastern Time RESEARCH ALERT-Goldman ups Nokia target, estimates HELSINKI, Dec 8 (Reuters) - Goldman Sachs on Wednesday raised its target price for shares in top mobile phone maker Nokia (NYSE:NOK - news) to 210 euros per share from 125 euros and increased its forecasts for the company. ``While valuation has reached record levels -- 63 times 2000 earnings -- we expect strong year-end results and new product introductions in February to take shares higher,' Goldman said in its morning call report. The share is on Goldman's European recommended list. Goldman said it raised its 2000 sales forecast to 26.5 billion euros and its earnings per share forecast to 2.70 euros, but its previous forecasts were unavailable. The investment bank said it expected Nokia to pursue acquisitions agressively to reduce its $3 billion cash pile and to focus on electronic business solutions becoming available on mobile phones.

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