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

To: tero kuittinen who wrote (575)	3/10/1998 4:26:00 PM
From: Jay Parekh	Read Replies (1) \| Respond to of 34857

HELSINKI, March 10 (Reuters) - Morgan Stanley has reiterated its outperform recommendation for shares in Finnish telecoms equipment maker Nokia (NOKSa.HE) and raised its target price for the share to 625 markka from 580, it said on Tuesday. An analyst at the bank said the revision followed a presentation by Nokia to analysts in London, where CEO Jorma Ollila had given a positive view of the group's outlook. Morgan raised its forecasts for operating profit margins in the telecommunications arm to 22.5 percent of net sales in 1998 and 21 percent in 1999 from 21.5 percent and 20.9 percent respectively, the analyst said. He said Ollila indicated during the presentation that Nokia had earlier underestimated the benefits for its infrastructure arm of rising production volumes. Ollila had also said that its Mobile Phones unit took off well in 1998, the analyst said. He gave the following earnings per share estimates for Nokia: 1998 1999 New 26.25 30.00 Previous fcast 25.65 29.05