To: lazarre who wrote (2665 ) 1/28/1999 11:36:00 AM From: Rusty Johnson Read Replies (2) | Respond to of 5390
Analysts Still Expect Shares Of Nokia to Ring Up Gains By GAUTAM NAIK and ALMAR LATOUR Staff Reporters of THE WALL STREET JOURNAL Can Nokia's soaring stock continue to defy gravity? Many observers say: Yes. While Swedish archrival Ericsson struggles to regain its former glory, and Motorola of the U.S. prepares to launch a new line of mobile phones, Nokia appears untouchable. Shares of the Finnish maker of mobile phones have surged to 126 euros ($145.66) each, up nearly 3% on Wednesday and nearly 170% from October, when world stock markets declined. And many analysts say room exists for more gains. Of the 27 brokers who currently recommend the stock, 17 have the equivalent of a "strong buy" rating on Nokia's shares, according to I/B/E/S, which tracks analysts' estimates. Since November, at least half of all brokerage houses that follow Nokia have raised their earnings expectations for the company. Some of the gains might be short term. Analysts are optimistic that Nokia will meet -- and likely exceed -- expectations when the company announces fourth-quarter and annual results on Friday. Those analysts cite strong phone sales during Christmas and bullish profit forecasts from Nokia's president and chief executive officer, Jorma Ollila. Consensus analyst projections have Nokia reporting 1998 profit of 2.63 euros a share. "They will probably beat official estimates," says Douglas P.E. Smith, an analyst at Salomon Smith Barney in London. Adds Lauri Rosendahl, an analyst for Aros Securities in Helsinki: "I think that the odds are that the stock will again go up on the report. The report will reflect Nokia's tremendous momentum in the fourth quarter, especially in relation to peers." interactive.wsj.com The Guild's largest holdings include stocks such as SUNW, CSCO, LU, IFMX and NOVL. Picked up PSFT recently around 18+ and is still holding PCMS, TSFT ... and of course ERICY. Continue to watch UNPH rise and probably need some QCOM and WCOM. Right now ERICY and IFMX are the most reasonably priced. Profits are "plowed" back into our mission of helping simple fumblestucks search for love in a hostile universe. The Midwest Norwegian-American Bachelor Farmer Preservation Guild is excited about funding a lutefiskandlefsa.com website. Our goal is overnight delivery of lutefisk and lefsa anywhere in the world. Rusty would like to buy a farm in California with the profits. What do they call "the Farm" out there ... Stanford? Sounds like a nice place to retire. Best of luck. Tussen Tak ...