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

To: zbyslaw owczarczyk who wrote (2765)	11/16/2000 7:30:59 PM
From: zbyslaw owczarczyk	Read Replies (1) \| Respond to of 3891

from MSDW: Thursday November 16 2000, 11h51 Alcatel: potential of 56%, even more, at horizon 12 months Recommendation To buy Go back to recommendation... 14/11/2000 Run of recommendation... 64 Author Angela Dean Establishment Morgan (Paris: 12933.PA - topicality ) Stanley Alcatel has with the current course a potential of appreciation raised according to Angela Dean and Angus Lund, the analysts in load of the value at Morgan Stanley Dean Witter. They note indeed that a certain number of elements militate in favour of a revalorization of the title. Initially, they estimate that the acquisition of Newbridge Networks and its technology makes it possible today the French group to compete with the world leaders in the field of switches ATM bound for the operators télécoms. Moreover, they think that this operation reinforces the probability of seeing Alcatel being reproduced on the world podium of the segment extremely coveted of the equipment broad band. Other currently significant point in industry, mobile infrastructures of third generation in which the group joined Japanese Fujitsu. This agreement seems to them to be convenient insofar as this test has already a validated technology, which should make it possible at Alcatel to reduce its short-term development costs and more quickly to build its share of market in this field. The introduction out of purse of energy Câbles division also constitutes, in their eyes, an element favorable to the title. It seems to them indeed that this centring will reinforce the perception of the market according to which Alcatel became a pure growth stock focused on the equipment télécoms. This statute is also consolidated by the development of the activity of optical components where the group would be, according to them, on the point to sign a very significant contract. The whole of these elements combined with the prospects for operating margin higher than 10% at fine horizon 2001, makes them extremely trustful on the file. They thus renew their recommendation ' fort' Purchase on the title with an objective of course of 100 euros, that is to say a potential in twelve months of 56%. They add that their evaluation by nap of the parts emphasizes a price of 114,6 euros per title, which still opens an additional potential once their objective of course reached. 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