Clearnet, the Canadian wireless play (CLNTF) Message Board

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Technology Stocks : Clearnet, the Canadian wireless play (CLNTF)

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To: Jan Johnstone who wrote (14)	9/19/1997 1:22:00 PM
From: Ken Turetzky	of 214

From NatWest Securities, Sept. 11 Wireless Telecom Jeffrey L. Hines Christopher M. Larsen (212) 602-5741 (212) 602-5741 In case you were worried, the biggest near-term risk to the Clearnet story appears to be dead. As previously noted, Clearnet's 4Q97 PCS launch is dependent on handset manufacturers developing the dual- mode (CDMA/IS95 and analog AMPS), dual-band (1900 MHz PCS and 800 MHz cellular) phone. In that vein, yesterday Qualcomm (QCOM-$51- NF) announced shipments of the QCP2700 - just such a phone. While Clearnet's initial order is coming from Sony for Sony's CM- B3200 model, the Sony model is essentially the same as the Qualcomm model (same "guts", different plastic) and will be announced shortly. While Clearnet still needs to obtain 20,000 of these units to meet our 4Q97 estimate, the fact that the phones are now shipping leaves us even more bullish on perhaps the cheapest public PCS stock available. Reiterate BUY rating on CLNTF with a 12-month price objective of $25/share based on our 10-year DCF model. Does anyone remember what happened to NXTL and other wireless stocks following subscriber growth increasing?

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