Nortel Networks (NT) Message Board

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Technology Stocks : Nortel Networks (NT)

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To: Kenneth E. Phillipps who wrote (6804)	9/13/2000 12:10:29 PM
From: SJS	Read Replies (1) of 14638

Some information from CSFB on NT business trends. ======= Nortel Networks (NT-$64 9/16-Cap $199.2B-Strong Buy) Business Trends Remain Favorable Despite Macro Spending Concerns FY00E: $0.73; FY01E: $1.00 · We believe recent investor concerns regarding CLEC spending and its potential impact on NT are overblown; We would characterize any slowing in the growth rate in spending by Tier-2 and/or Tier-3 CLECs as being immaterial to NT’s Q3:00 performance and going forward outlook. · On a macro level, it is important to remember CLEC spending is a small part of overall capital budgets (i.e., represents 6% of total U.S. carrier spending). · We estimate NTs Q3:00 is tracking favorably to our $7.5B top-line and $0.17 EPS estimates; Potential exists for the company to outpace our sales projection by several hundred million dollars and our bottom-line estimate by $0.01-$0.02 per share. · We project key top-line catalysts for NT’s Q3:00 include strong results in optics, wireless systems, ATM switching and broadband access. · NT is our top pick among the systems integrators; Reiterate Strong Buy rating and $120, 12-month price target.

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