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Technology Stocks : GTE -- Ignore unavailable to you. Want to Upgrade?

To: gypsees who wrote (662)	1/12/2000 12:32:00 PM
From: Rob Preuss	Read Replies (1) \| Respond to of 671

[GTE cut to "attractive" from "buy". Price Target: $79.] Wednesday January 12, 12:00 pm Eastern Time RESEARCH ALERT - PaineWebber cuts 3 telecoms NEW YORK, Jan 12 (Reuters) - PaineWebber on Wednesday said it cut its investment rating of three telecommunications companies to attractive from buy and cut their price targets. -- The price target for SBC Communications Inc. (NYSE:SBC - news) was cut to $51 from $58. Shares of were trading down 1-3/4 at 42-3/8 in trade on the New York Stock Exchange. -- The target for Bell Atlantic Corp. (NYSE:BEL - news) was cut to $66 from $75. Shares were down 3/8 at 57-1/4 in trade on the New York Stock Exchange. -- The target for GTE Corp. (NYSE:GTE - news) was cut to $79 from $86. Shares were down 11/16 at 66-5/8 in trade on the New York Stock Exchange. -- Analyst Eric Strumingher said concerns over additional downward revisions to voice revenue growth estimates in long distance and pressures on operating margins due to dilutive investments and spending on customer acquisitions will hurt the companies, at least until first half results are seen or the stock has a more dominant investment theme.