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


To: zbyslaw owczarczyk who wrote (3249)4/30/2001 7:19:39 PM
From: zbyslaw owczarczyk  Read Replies (1) | Respond to of 3891
 
CFSB on Alcatel:
fr.biz.yahoo.com

Monday April 30 2001, 18h30

Alcatel: always gravitational, potential at one year
of 40%

Recommendation To buy
Go back to recommendation... 30/04/2001

Run of recommendation... 34.10
Author Ian Burgess
Establishment CSFB

Alcatel has just published results of the 1st quarter of good invoice
taking into account
the difficult context which currently surrounds the equipment
suppliers télécoms.
Such is the opinion of Douglas Smith, Ian Burgess and Jason Hirst,
the analysts who
follow the value at Swiss Credit First Boston.

Alcatel is one of the leaders in the field of the equipment
télécoms and the Internet.
In addition, the group is the world number one of the transmission
and the access to
high flow.

The analysts estimate that the good performance of the group is in
particular to put on the account of its
geographical positioning which makes it less vulnerable than its
competitors to the deceleration of the American
economy (47% of the sales are carried out in Europe, 11% in Asia and
23% in the United States).

They report in addition that the French equipment supplier intends to
record a growth of his sales ranging
between 5% and 15% for the whole of the year with a clear improvement
of the margins in second part of
exercise. According to them, the group watch can be a little too
ambitious and they prefer to adopt a more
careful attitude by revising with the fall their own estimates.

In spite of this adjustment, they consider that the title remains
always very gravitational at the current levels even
if they do not identify short-term catalysts. On the whole, they thus
remain with the purchase on the value which
would have, according to them, to appreciate itself of 40% at horizon
one year.

Following this publication, the engineering and design department of
SCE initiated the cover of the value with a
recommendation of purchase and an objective of courses of 40 euros.
On the level of the other engineering and
design departments which followed already the value, one can note
that WestLB Panmure maintained its
recommendation ' surperformance', that Wargny remained with the
purchase just like Commerzbank whose
objective of courses is established to 80 euros. Fortis Securities is
also positive on the file with an objective in
twelve months of 57 euros.

George Quentin

Copyright (c) 2001 Concerto and Associés

The comments presented by Concerto and Associated constitute a
selection of information available on
the site www.selectbourse.com