John,
Even LU got a neutral rating, too. How coincident! LU & PAIR
were the only ones which got neutral rating.
Check out the news time.
RESEARCH ALERT - Lehman starts telecom equipment
Reuters Story - August 13, 1998 20:57
NEW YORK, Aug 13 (Reuters) - Lehman Brothers Thursday
initiated coverage of 11 telecommunications equipment
companies, citing Tellabs Inc. , RELTEC Corp.
and Advanced Fibre Communications Inc. as favorite
stocks.
All of the companies were given buy or outperform ratings,
except Lucent Technologies Inc. and PairGain
Technologies Inc. , which were labeled neutral.
"By almost any measure, the financial performance of the
telecommunications equipment companies has been and continues
to be stellar," analyst Steven Levy said in his research
report.
As a group, quarterly revenues and profits continue to hit
new records on a regular basis, Levy said.
All telecommunications equipment vendors should be able to
benefit from "an unprecedented rising tide of demand," Levy
said in the note.
Levy was not immediately available to provide further
details.
Advanced Fibre was off 29/32 at 12-5/32, Reltec was up
15/16 at 35 and Tellabs was up 5/16 at 72-1/2 in afternoon
trading. |
