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

To: Rono who wrote (9555)	1/20/2000 10:50:00 PM
From: JF Quinnelly	Read Replies (1) \| Respond to of 10227

03:20 PM ET 01/20/00 RESEARCH ALERT - PaineWebber on wireless outlook NEW YORK, Jan 20 (Reuters) - PaineWebber analyst Walter Piecyk said he raised price targets for Nextel Communications Inc. , Sprint PCS Group and VoiceStream Wireless Corp. and predicted the U.S. will see a record number of new wireless subscribers in 2000. -- said increased the 2000 net subscriber addition estimate to 21 million from 16 million, a 25 percent increase over the estimated 17 million who subscribed in 1999. -- said raised the 2001 net new subscriber estimate to 24 million from 16 million. -- said raised its wireless penetration estimate to 48 percent from 43 percent. Expects the U.S. market to reach 80 percent penetration by 2006, six years earlier than its previous estimate. -- said raised the Nextel price target to $190 from $135. -- said raised the VoiceStream price target to $190 from $120, and raised Sprint PCS's target to $160 from $110. -- said these three companies may see a lower percentage of the industry's total subscriber growth due to expected competition from the alliance between Bell Atlantic Corp. and Vodafone AirTouch Plc and AT&T Corp.'s wireless unit. -- shares of Nextel gained 3 to 122-1/8 on Nasdaq, while VoiceStream lost 3-7/8 to 130-5/8. Sprint PCS added 2-3/4 to 108 on the New York Stock Exchange. -- shares of Bell Atlantic added 1-5/16 to 59-1/8 and AT&T shed 1/8 to 53, both on the NYSE. American Depositary Receipts of Vodafone gained 11/16 to 57-3/8 on the NYSE. ((Jessica Hall, New York newsroom 212 859-1729)) --------------------------------------------------------------------------------