Nuevo Grupo Iusacell (CEL) Message Board

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Technology Stocks : Nuevo Grupo Iusacell (CEL)

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To: Nancy Haft who wrote (76)	8/30/2000 1:18:21 PM
From: Rob Preuss	Read Replies (1) of 206

[UBS Warburg raises target price for CEL to $22/sh.] Wednesday August 30, 12:27 pm Eastern Time RESEARCH ALERT-UBS ups Mexico's Iusacell target price MEXICO CITY, Aug 30 (Reuters) - UBS Warburg said on Wednesday it has upgraded Nuevo Grupo Iusacell, Mexico's second biggest cellular service provider, target price to $22 per share saying the company has all the ingredients to secure sustainable growth. -- UBS reiterated its strong buy investment recommendation on Iusacell and said the new target price is approximately 90 percent above the current price. -- ``We believe the company has the expertise and strong management, provided by Verizon, to become a premier cellular provider,'' focused primarily in Mexico's highest income segment in the cellular market. -- U.S. Verizon Communications (NYSE:VZ - news) -- formed from the recent merger of Bell Atlantic Corp. and GTE Corp. -- holds some 37 percent of Iusacell. -- Iusacell ADRs (NYSE:CEL - news), or American Depositary Receipts, traded at 11-15/16 on Wall Street, 8/16 above Tuesday close. The company's shares in the local stock market hadn't traded yet but closed at 10.72 pesos last Thursday

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