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Technology Stocks : The New Qualcomm - a S&P500 company -- Ignore unavailable to you. Want to Upgrade?

To: Keith Feral who wrote (5361)	1/18/2000 12:35:00 AM
From: Ruffian	Read Replies (2) \| Respond to of 13582

RESEARCH ALERT-KT Freetel upgraded to 'hold'-SG SEOUL, Jan 18 (Reuters) - SG Securities said on Tuesday it had raised mobile phone operator Korea Telecom Freetel Corp to a ''hold'' from a ''sell'' on improving profitability and enhanced growth prospects. It set Korea Telecom Freetel's fair value price at 130,000 won. The share was up 1,500 won at 121,000 as of 0440 GMT. SG said in a statement it had upgraded Korea Telecom Freetel on "improving earnings and the (company's) move into high-growth wireless data service this year." It estimates Korea Telecom Freetel's net profit will reach 224 billion won this year, up from a net 119 billion net loss in 1999. Korea Telecom Freetel's sales are estimated to increase to 2.7 trillion won in 2000, up 18 percent from 2.3 trillion won in 1999, SG Securities said. The strategic alliance with Canada's Capital Communications CDPQ, Microsoft (NasdaqNM:MSFT - news) and Qualcomm Inc (NasdaqNM:QCOM - news) was seen as a ''double-edged sword.'' SG Securities noted that while the alliance attracted $600 million, Korea Telecom Freetel faces pressure to adapt to untested technologies of its new shareholders for its critical wireless data service. Korea Telecom Freetel Corp is an affiliate of state-run Korea Telecom Corp . It is listed on the over-the-counter Kosdaq .