RESEARCH ALERT: here it is, just out. Merrill upbeat on cellular cos.; Xilinx is a provider to cellular, cellular infrastructure, and wireless comm markets.
This is my "buy" signal. Comments?
Dan
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RESEARCH ALERT-Ericsson (SWED:LME.B),Nokia forecasts up
Reuters, Wednesday, June 11, 1997 at 12:50
STOCKHOLM, June 11 (Reuter) - U.S. investment bank Merrill
Lynch has set a target price of 350 crowns for shares in Swedish
telecoms group Ericsson (SWED:LME.B) and 400 Finnish markka in
Finnish rival Nokia (HELS:NOKS.A), market sources told Reuters on
Wednesday.
At 1530 GMT, Ericsson was trading 6.5 crowns higher at 292.5
crowns and Nokia 12 higher at 364 markka amid market rumours
about the Merrill Lynch report.
The sources, who had seen a report by the investment bank,
said Merrill Lynch had raised its 1997 profit forecast for
Ericsson to 9.70 crowns a share from nine crowns and its 1998
estimates to 13.50 crowns a share from 11.50.
Over the next five years, Merrill expects the company's
average growth to be 26 percent annually.
The investment bank was also said to have lifted its 1997
forecast for Nokia to 16.70 Finnish markka per share from 15.50.
In 1998 Merrill Lynch expects Nokia to earn 20.70 markka per
share, up from 18 markka.
Merrill Lynch expects Nokia to grow on average 23 percent
over the next five years.
-- Henrik Persson, Stockholm newsroom +46-8-700 1011
Copyright 1997, Reuters News Service |
