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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: Mephisto who wrote (2934)	12/6/1999 4:12:00 PM
From: w molloy	Read Replies (1) \| Respond to of 34857

Nokia NYSE shares may top $225/shr NEW YORK, Dec 6 (Reuters) - Salomon Smith Barney analyst Alex Cena said Monday shares of Finnish mobile phone maker Nokia Corp. (NYSE:NOK - news) listed on the New York Stock Exchange may top $225 per share in the next six months. -- Nokia's American Depository Shares were up 20-5/8 trading at 176-11/16 on the New York Stock Exchange. -- Cena also raised his 2000/2001 net earnings estimates for Nokia to $2.90 per share from $2.75 and to $3.75 from $3.42, respectively. -- Cena said business remains robust in mobile phones. -- Said the company's 2000 revenue growth goals are now 30 percent to 40 percent, as opposed to its previous goal of 25 percent to 35 percent. -- Cena said Salomon's estimates are still reasonable if not conservative. ''While we have moved up our revenue forecasts, our margin assumptions are the same, with a gradual downward drift in operating margin.'' -- Said Nokia's market share leadership, defensible franchise and consistent financial performance should enable the company to narrow the valuation gap with other technology companies that have valuations closer to 80 times forward earnings.