Forbes.com staff, 02.25.04, 3:52 PM ET
NEW YORK -
Wells Fargo Securities said Motorola (nyse: MOT - news - people ) and Nokia (nyse: NOK - news - people ) offer better risk/reward opportunities than Ericsson (nasdaq: ERICY - news - people ). Wells Fargo said it was impressed with Ericsson's expectations of strong first-quarter revenue, but the share's rich valuation at 39 times the company's fiscal 2005 earnings-per-share estimate 'continues to give us pause.' The research firm noted that peers Motorola and Nokia respectively trade at 24 times and 17 times fiscal 2005 EPS estimates"


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