Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 167.99

+1.7%

12:58 PM EST

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To: Jon Koplik who wrote (18638)	11/20/1998 12:22:00 PM
From: SKIP PAUL	Read Replies (4) of 152472

PCS_w up 4 9/16 Friday November 20, 11:10 am Eastern Time RESEARCH ALERT - Sprint PCS started NEW YORK, Nov 20 (Reuters) - Lehman Brothers and Warburg Dillon Read said Friday they started coverage of Sprint PCS Group, the stock created to track the personal cellular business of Sprint Corp. (NYSE:FON - news). -- Warburg Dillon Read said it started Sprint PCS with a strong buy rating and a target price of $25 a share. -- Lehman said it started Sprint PCS with a buy rating and a 1999 price target of $21 a share. Estimates earnings per share at a loss of $6.18 in 1998 and a loss of $4.75 in 1999. -- Standard & Poor's said Thursday Sprint PCS would replace steel company Armco Inc (NYSE:AS - news) in the S&P 500 index. -- In notes, both Lehman and Warburg said they had not expected Sprint PCS shares to initially be included in the S&P 500. Index fund managers that track the S&P 500 will not have to divest their holdings in Sprint PCS now that the shares have been added to the index. -- Shares trading on a when-issued basis were up 4-5/16 to 17-1/8.

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