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Technology Stocks : Alcatel (ALA) and France -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (2488)	9/29/2000 5:29:09 PM
From: zbyslaw owczarczyk	Respond to of 3891

Stave, I have spoken to ALA in Paris today. Outlook has NOT change and and the company sticks with guidance given in July, and disagree with ABN Amro. The company, based on available info does not agree with P.Sagawa finding. For example JP Morgan today issued completely opposite note. Spending for IP/ATM or transmission business, access in US will do very well, however older Circuit Switching will decline!!!-( Lucent problems- my note), b/c ALA is not selling this in US. In Europe optics, ATM, access are picking up, where older CS is still doing OK. I was told that today for example in Paris was rumor about huge sell order waiting, which was NOT TRUE!!!! ---------- another rumor from French press: Alcatel: weekend under pressure The title Alcatel (Paris: 13000.PA - topicality) knew a difficult weekend affected by a series of rumours and supported profit-takings last a rally haussier 5 month old. Information coming from London gave a report on a resignation of Serge Tchuruk of the presidency of the group, rumours contradicted after the fence by Alcatel. Other operators evoked the nearest launching of a placement of titles what contributed to weigh on the market. -------------- rumors about Motorola were active on Paris floor today again new recomendation: Recommendation To buy Go back to recommendation... 25/09/2000 Run of recommendation... 83 Author Pascal Mathieu Establishment Ccf (Paris: 12570.PA - topicality ) Securities Alcatel (Paris: 13000.PA - topicality ) currently seems to profit from a particularly favorable dynamics on the majority of its markets, the whole of the indicators of the company being to the green according to Pascal Mathieu, the analyst who follows the value at CCF Securities. Thus, on the market very carrying the ADSL, the group has currently more than 50% of share of market and even seems restricted only by its output while on the WDM (multiplexing wavelength), it has a competitive technology from now on, advances some on competition. The company directed by Mr. Tchuruk ambitionne in addition to capture 15% of the market of the mobile infrastructures of third generation and 30% of that of the local loop radio operator high flow, thus reiterating the exploit carried out with the ADSL. Lastly, the group positions like the second world producer of switch ATM since the repurchase of Newbridge. Taking into account these encouraging elements, Alcatel counts from now on on a growth of the sales higher than 20% per annum, whereas the improvement of the margins (which should be able to pass from 7,2% to 10 or 12% within 3-4 years) should allow an annual progression of almost 40% of the turnover. Considering the valorization of the group still relatively low in terms of ratios cours/bénéfice and cours/résultat of exploitation compared to his principal Nortel competitor, Pascal Mathieu advises the purchase with an objective of course which arises with 104 euros, that is to say a residual potential of 25%. Copyright ¸ 2000 Concerto and Associés Consultings of investment introduced by Concerto and Associated on the Yahoo site! Finance constitute a selection of information available on the site www.selectBourse.com