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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Zoltan! who wrote (28546)	10/4/1999 8:09:00 AM
From: Techplayer	Read Replies (2) \| Respond to of 77399

Z, Lehman has never liked LU. do the research. They have said the same thing for at least a year. There was a new rating from PaineWebber on 10/1. this is a repost from the LU board. Here are details of the report. Price target $100.00 50x Y2001 EPS of 2.00 6:07am EDT 1-Oct-99 PaineWebber (Piecyk, Walter P. 212-713-4075) LU LU.N Lucent: Posts $2.5 Billion of Orders In September Telecom equipment; Wireless Services PaineWebber Walter Piecyk RESEARCH NOTE 212-713-4075/piecykw@painewebber.com William Choi, Analyst (212-713-2609) October 1, 1999 Lucent Technologies Rating: Buy (LU-$64.94)(3) Lucent: Posts $2.5 Billion of Orders In September KEY POINTS * Lucent had a very strong September announcing over $2.5 billion of contracts. * $1.5 billion of the contracts were to wireless operators with the majority of the balance for optical products. * Strength in its business with operators continues to drive results. We expect 25% growth in this segment in Q4. We believe Lucent is on track for posting over $10 billion in revenue and $0.29 in EPS in Fiscal Q4. * Over the next month we expect several events to drive Lucent's stock including: * Strong fiscal Q4 results with balance sheet improvements. * Product and contract announcements at Telecom 99 Trade Show in Geneva during the week of October 11th. * Product announcements and bullish outlook at Lucent Investor Day on November 11th. * Increased capital spending plans by major operators (See Capital Creep notes). * Price target of $100 implies 50x our 2001 EPS estimate of $2.00. Key Data Quarterly Earnings Per Share (fiscal year ends September) 52-Wk Range $78-29 1998A 1999E Prev 2000E Prev Eq.Mkt.Cap.(MM) $198,976 1Q $0.39 $0.49A $0.54 Sh.Out.(MM) 3,064 2Q 0.09 0.17A 0.25 Float 85% 3Q 0.17 0.26A 0.34 Inst.Hldgs. 42.8% 4Q 0.21 0.29E 0.37 Av.Dly.Vol.(K) 10,090 Year $0.86 $1.21 $1.50 Curr. Div./Yield $0.08/0.1% FC Cons.: NA $1.20 $1.51 Sec.Grwth.Rate 20% Revs.(MM): $31,806 $38,162 $45,111 12-mo. Tgt Price $100.00 P/E: 75.5x 53.7x 43.3x 12-mo. Ret. Pot'l 54.1% Convertible? No Contractor Country Description Amount (millions) MediaOne USA 5ESS digital switches and SONET $250 systems; communications software Chunghwa Telecom Taiwan SDH transmission $40 equipment-Self-healing fiber rings and Wavestar DACS Celcom Malaysia Arbor/BP billing software and customer undisclosed care module T-Mobil Germany GSM Network upgrade for GPRS-no $250 products specified Konka Group China Sceptre GSM chip set for wireless undisclosed handsets Leap Wireless USA CDMA network equipment, base stations, $330 switches; Netcare support services Telecorp PCS USA Echo canceller and Voice Enhancement undisclosed System Bank One/AT&T USA DEFINITY entreprise-comm. Server and $79 Centrevu call mgmt system Adornis.com USA Centrevu internet customer $10 relationship mgmt products, services, software Telus Canada Voice, Internet, and High-speed data $140 network-with 5ESS switches, etc. Telesp Celular Brazil CDMA overlay for analog system-5ESS $14 switches, Autoplex minicells Vesper Brazil WLL-Flexent PCS minicells, MSC's w/ $470 5ESS, Netcare svcs, Galaxy Power sys. Beijing Telecom China GSM platform for handsets based on undisclosed Equip. Factory Sceptre chips France Telecom France Arbor/BP billing software undisclosed Metromedia Fiber Europe/US Deployment of Allwave(for cities) $40 Networks fiber for intracity network routes Florida East Coast USA Truewave RS High-count optical fiber, $270 Industries Netcare services and consulting combined Columbia Energy USA Truewave RS High-count optical fiber Group WIN switching USA Converged telecom nwk-Pathstar Access $50 Server, 7R/E Packet Driver, 5ESS swch Cavalier Telephone USA Internet call waiting software undisclosed Kaiser Permanente USA DEFINITY entreprise-comm. server, undisclosed Centrevu call mgmt sys, Netcare services Bellsouth Wireless USA Arbor/Mobile billing, customer care $180 Data and analysis, and order management product One.Tel Australia GSM network construction $281 IFX Corp. USA MAX 6000 and TNT WAN access switches $10 to expand dial-access services Total $2,415 Millions