UNPH _ Uniphase Message Board

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Technology Stocks : UNPH _ Uniphase

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To: fred woodall who wrote (1015)	11/17/1998 11:08:00 AM
From: The Ox	of 1261

RESEARCH ALERT-Uniphase, Northern Telecom started NEW YORK, Nov 17 (Reuters) - Credit Suisse First Boston analyst James Parmelee said Tuesday he initiated coverage of Uniphase Corp. <UNPH.O> and Northern Telecom Ltd. <NT.N> with a buy rating. Uniphase 1999 and 2000 EPS estimates are $1.20 and $1.60 respectively. The 9-12 month target price is $60. Parmelee considers Uniphase's strategy of consolidating a fragmented component market compelling. Parmelee also expects management to undertake additional acquisitions to expand the target market. Uniphase has potential for acceleration in growth during calendar year 1999 as manufacturing capacity additions are completed and the semiconductor capital equipment business is divested. Parmelee initiated coverage of Northern Telecom with 1999 and 2000 EPS estimates of $2.15 and $2.60 respectively and a 12 month target price of $56. Parmelee expects Nortel's comprehensive product portfolio, systems approach and global reach to position the company to post market share gains during the foreseeable future. He considers Nortel to have potential for additional operating margin expansions based upon cost reduction and restructuring efforts. Uniphase shares closed at 49-3/4 on Monday and Nortel shares were off 5/16 at 44-13/16 on Tuesday. 10:40 11-17-98

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