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Technology Stocks : Nokia (NOK)

NOK 6.270

-1.4%

Dec 12 9:30 AM EST

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To: Nils Mork-Ulnes who started this subject	1/30/2001 11:03:51 AM
From: foundation	Read Replies (2) of 34857

Merrill sees NOK at $28, N-T --11:00 am - By Tomi Kilgore Commenting on Nokia's (NOK: news, msgs) alightly-lowered sales growth estimate (see 9:34 item), Analyst Adnaan Ahmad at Merrill Lynch noted that "nearly all" of its competitors have reduced expectations, citing weak-than-expected mobile phone demand. Ahmad added that he believes marging pressure in the company's mobile phone division will be temporary and that its network infrastructure division will continue to gain market share. He reiterated his intermediate-term and long-term "buy" ratings on the stock, but said the stock could trade down to $28 in the near term, based on 2001 EPS estimates. Meanwhile, he continues to believe the company can grow by between 25 and 35 percent through 2003. The stock is now down $2.75, or 7.4 percent, at $34.24. www2.marketwatch.com

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