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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: Eric L who wrote (19319)	4/3/2002 3:45:21 PM
From: slacker711	Read Replies (2) \| Respond to of 34857

(NOK) - Upgraded to Strong Buy from Buy. Price objective is $28. Analyst is Mark Jordan, whose comments follow: investor.cnet.com "We are raising our rating on Nokia to Strong Buy from Buy and reiterating our price objective of $28. The present valuation represents an attractive opportunity to buy Nokia shares given an improving environment for mobile handsets and Nokia's ability to gain share with its strong product portfolio. Our current model values Nokia shares at a multiple of 40 times our 2002 estimate of EUR0.79 for a price objective of EUR31 ($28), while the shares are presently trading at about 29 times our 2002 estimate. Our valuation, which is established relative to the S&P500, assumes that Nokia can return to an 18% to 20% annual earnings growth rate after emerging from this challenging environment, continue its market share gains, and sustain current levels of profitability."