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Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: Cary C who wrote (3756)	11/20/2003 1:38:43 PM
From: Sergio H	Read Replies (2) \| Respond to of 23958

USTI looks great technically and somebody likes their fundies also: from briefing... 9:29AM Oppenheimer reiterates Buy given fundamental outlook on UTSI (UTSI) 35.14: Oppenheimer reiterates its Buy rating on UTSI and 12-month price target of $48. The firm notes several news accounts suggests the co's fundamental outlook continues to strengthen. The firm highlights recent comments by an official of UTSI at an investor conference who mentioned China now had 30 mln PAS subscribers, up from 28 mln at the end of Sept and 12 mln in 2002. As a result, the firm notes the co will likely exceed forecasts of "over 30 mln" subscribers at the end of 2003. Oppenheimer considers the co's shares to be undervalued given its current valuations on 18x expected 2004 earnings, a substantial discount given its average of 29x current year EPS for the past three years. The firm believes secular EPS growth of close to 20% is now likely. Its shares trade at an attractive P/E multiple with a 2004 PEG multiple of about one.. (Briefing.com note: stock currently trading $0.41 higher in pre-market; see 08:01 update for related commentary)