Subject: [NEXTEL-1] Nextel's Heavy Spending Seen Aiding Motorola

From: Marcelrf <[email-masked]>
Date: Fri, 20 Feb 2004 14:25:50 -0500

Nextel's Heavy Spending Seen Aiding Motorola
 Forbes.com staff, 02.20.04, 2:10 PM ET

 NEW YORK -
 Credit Suisse First Boston said Nextel
 Communications (nasdaq: NXTL -
 news - people ) recently announced 2004
 capital spending guidance of $2.2 billion,
 which was substantially above the
 research house's own estimate of $1.6
 billion. CSFB also said Nextel (nasdaq:
 NXTL) announced it expects 1.8 million net
 handset additions in 2004; the research
 house's prior estimate was for 1.6 million
net additions.

CSFB noted that Nextel is Motorola's (nyse: MOT - news - people )
largest wireless infrastructure customer and said the capital spending
announcement improves the visibility of Motorola's business. CSFB
predicted that the news from Nextel increases the likelihood of a
"strong first-quarter sell-through," and near-term operating
improvements for Motorola. CSFB reiterated an "outperform" rating and a
$20 12-month target for Motorola and said its relative valuation remains
attractive. In issuing the reiterations, CSFB noted "continued support
for our optimistic view on the global handset market, a more favorable
view of management strategy and greater conviction around potential for
near-term margin and earnings per share improvement." Motorola stock was
up 7 cents at $17.48.

http://www.forbes.com/markets/2004/02/20/0220automarketscan06.html?partner=my_yahoo&referrer=

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