UBS lowers estimates and price target on Alcatel
The home business UBS Warburg reduced its earnings per share estimates and price target on the French company Alcatel, advancing doubts about a rebound in demand in the relevant market and a listing of the margin improvement operating group. The broker has maintained a Hold recommendation on the title, but cut its price target from 17 to 13 euros. The estimates of earnings per share for 2002 were lowered from -0.21 to -0.46 euros, while over 2003 are revised from +0.64 to +0.10 euro. Actions Alcatel, in the first minutes of trading on the Paris Stock Exchange, are trading at 15.65 euros, up by 1, 95%.
