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Technology Stocks : NEXTEL
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To: stephen allen who wrote ()5/24/2000 10:55:00 PM
From: JF Quinnelly  Read Replies (1) of 10227
 
ABN AMRO said it raised its rating on NEXTEL COMMUNICATIONS to hold from underperform. "Despite (Nextel's) recent price correction, we maintain our cautious view on (Nextel's) valuation due primarily to the unknown cost of satisfying (Nextel's) spectrum needs," analyst Kevin Roe said in a research note. "Operationally, we continue to believe that (Nextel) will maintain its strong presence in the U.S. wireless landscape as one of six national operators," Roe said. "Our long-term DCF valuation supports a year-end price target of $80," he said. "Within the large-cap U.S. wireless universe we continue to favor VoiceStream and Sprint PCS," he said. (Reuters 08:35 AM ET 05/24/2000)
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