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Technology Stocks : Ericsson overlook?
ERIC 9.325-1.8%3:59 PM EST
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To: JDN who wrote (5117)11/21/2002 3:56:53 AM
From: elmatador  Read Replies (1) of 5390
 
Ericsson down 3.7 per cent at 9SKr. Deutsche Bank downgraded the two telecom equipment makers to "sell" from "hold", saying its fair values of SKr5.7 for Ericsson and €4 for Alcatel implied a 40 per cent and 22 per cent downside risk respectively.

Deutsche Bank expects a refinancing at Ericsson in 2004 and Alcatel by 2005 and argued the skew towards the upside in Ericsson's share price was not supported by fundamentals and unlikely to be in the coming few quarters
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