Telco Equipment
The long march
We like Ericsson (Buy) and Nokia (Buy), as we expect both companies to improve
margins and market shares. In contrast, we believe Alcatel-Lucent (Sell) will
struggle to generate cash and improve margins.
Key recommendations & forecasts
Reuters Year end Recom Price Target
price
EPS
1fcst
PE
1fcst
Nokia NOK1V.HE Dec 2009 Buy