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Technology Stocks : Sprint Nextel Corporation (S) -- Ignore unavailable to you. Want to Upgrade?

To: slacker711 who wrote (340)	9/25/2000 11:25:29 AM
From: Cooters	Read Replies (1) \| Respond to of 1691

RESEARCH ALERT - Lehman upgrades Sprint PCS --From AOL.-- Cooters NEW YORK, Sept 25 (Reuters) - Lehman Bros. said on Monday that it upgraded wireless phone operator Sprint PCS <PCS.N> to buy from neutral, saying the company's stock "could double over the next year." -- PCS shares rose $2.00 or 7.81 percent to $30.00 in early trading on the New York Stock Exchange, less than half the year high for the shares of $66-15/16. The year low is $27-7/8. -- Lehman cut the company's price target by $1 to $58 after it said its customer churn -- meaning customers that stop using the service -- was higher than expected during the third quarter. The announcement sparked a sell off in the stock. -- "The market sell-off in PCS exaggerates the fundamental issues surrounding third quarter churn," Lehman said in a research note. "We are upgrading PCS to a 1-Buy and think the stock could double over the next year." -- Fears of increased competition have created fear in the market, but it is an overreaction, Lehman said. 10:16 09-25-00 FON.N> 10:34 09-25-00