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Technology Stocks : Nuevo Grupo Iusacell (CEL)
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To: Nancy Haft who wrote (53)2/23/2000 12:01:00 PM
From: Rob Preuss  Read Replies (1) of 206
 
[CEL cut to "neutral" from "outperform".]

Wednesday February 23, 9:01 am Eastern Time

RESEARCH ALERT-Mexico's Iusacell cut to Neutral

MEXICO CITY, Jan 23 (Reuters) - Morgan Stanley Dean Witter
said on Wednesday that it was downgrading its recommendation
on Mexican cellular telephone company Grupo Iusacell
(NYSE:CEL - news) to ``neutral' from ``outperform.'

--said Iusacell reported fourth-quarter 1999 results below
expectations, with revenues eight percent lower than
expected, although cost control was good.

--said subscriber growth was good in the fourth quarter,
rising to 1.32 million in line with expectations, but
revenues per user showed a steep decline.

--said Iusacell shares are up more than 50 percent year-to-
date. ``In our view it is prudent to take some profit at
current levels given the run.'
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