Subject: [NEXTEL-1] Nextel taken down a few notches-

From: Marcel <[email-masked]>
Date: Thu, 08 May 2003 20:47:03 -0400

Washington Business Journal - May 8, 2003

4:44 PM EDT Thursday

Nextel taken down a few notches

Jeff Clabaugh   Staff Reporter

Reston-based Nextel Communications has been a Wall Street darling lately. At least two
Wall Street analysts think the stock's
stellar run is done.

Nextel shares have gained about 150 percent in the past 12 months as the company continued
to grow its subscriber base and
became a profitable business for the first time. Its shares retreated Thursday after
analysts at Wachovia Securities and Goldman
Sachs cut their ratings on Nextel.

Wachovia analysts Jennifer Fritzsche cut her rating to "market perform" from "outperform",
saying the catalysts that have driven its stock are either behind it or too far ahead. She
says she continues to favor the underlying fundamentals of the company, but says
competition could slow growth at Nextel.

Goldman Sachs analyst Frank Governali cut his recommendation on Nextel to "underperform"
from "in line".

Nextel stock (Nasdaq: NXTL) fell 54 cents to $13.28 per share in Thursday trading.

Last quarter, Nextel signed up 480,000 new subscribers, bringing its total subscriber base
to more than 11 million. Nextel now
ranks as the fifth-largest wireless carrier in the country.

http://washington.bizjournals.com/washington/stories/2003/05/05/daily32.html?t=printable

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