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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Mighty Mizzou who wrote (11417)	11/30/1999 11:26:00 AM
From: Bindusagar Reddy	Read Replies (1) \| Respond to of 21876

LU favored over NT. 11:04am EST 30-Nov-99 Morgan Stanley\DW MORGAN ENE HLTH CMS NT LU ADI C CLX RMB NEW YORK MORNING MEETING SUMMARY/P1 TECHNOLOGY: TELECOMMUNICATIONS & WIRELESS EQUIPMENT Alkesh Shah/(212) 761-6554 We Favor Lucent Over Nortel - Optical networking start-ups are doing extremely well, Alkesh said He also commented on Nortel Networks' problems in supplying ITC DeltaCom (see separate item below). - Nortel (NT, $80, Outperform, target $85) is capacity-constrained, he said This should benefit Lucent Technologies (LU, $75.69, Strong Buy, target $85), Alkesh believes. - To play this, he would switch out of Nortel and into Lucent ITC DELTACOM (ITCD, $31, $36, Strong Buy) US: Telecommunications Services Peter Kennedy/(212) 761-8033 Change in Earnings Forecast Problem Is No Obstacle to Growth; Revising Estimate - We widened our 1999 EPS estimate for ITCD to $(0.98) from $(0.96) We cut our 4Q estimates of revenue to $68 million from $70 million and EBITDA to $8.1 million from $9.1 million. - ITCD said delays from Nortel Networks (see item above) may hurt 4Q results - This shipment delay issue is temporary and supply driven, in our view We continue to expect 2000 revenues of $362 million and EBITDA of $57.7 million.