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Technology Stocks : Wi-LAN Inc. (T.WIN) -- Ignore unavailable to you. Want to Upgrade?

To: scadaboy who wrote (5389)	11/22/2000 10:40:23 AM
From: Al Collard	Respond to of 16863

National Post Online Downgrade The Latest Blow For Wi-LAN National Post Online - 11/22/00 10:10:16 AM CALGARY - Wi-LAN Inc. shares took another beating yesterday, when CIBC World Markets analyst Todd Coupland reset his 12-month target price to a range of $24 to $36. As recently as Aug. 17, his call was for a run to $200. As if that cut wasn't deep enough, the Toronto-based analyst, one of the stock's biggest boosters, made it clear he thought the revised target would be tough to hit. "We don't expect that our target price will be reached in the short term. We believe that investors will require concrete evidence that the company is meeting its reset expectations prior to applying our reset valuation target." He reduced his rating to "speculative buy," from "speculative strong buy." The darling of Calgary's emerging wireless sector has been pummelled every day this month. The stock dropped nearly 50% in the past two sessions. It took out a new 52-week low of $8.55, before closing at $9.25, down $2.35. Investors ran for the gates after Wi-LAN, which makes hardware for high-speed wireless communication, said on Monday its revenues from broadband wireless sources would be 40% lower than forecast, or about $50-million instead of the $84-million expected by analysts. Mr. Coupland, who did not return calls yesterday, said in his report Wi-LAN will have enough cash to get through the first half of 2001. But he noted some financing will be needed for the company to reach its strategic objectives. Observers speculate the company will have trouble raising cash after such huge disappointments. In his Aug. 17 report, Mr. Coupland said his target price of $200 in 12 months was supported by the explosion in wireless data and its impact on infrastructure requirement, the growth of high-speed wireless networking equipment, and Wi-LAN's competitive advantage in wireless intellectual property. On Monday, Wi-LAN said 2001 revenues would be lower because of market conditions and slow service provider deployments in licensed frequency bands.