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Nortel stock streaks to a record on heavy trade

By Susan Taylor

excerpt from Reuters:

OTTAWA, Feb 4 (Reuters) - Nortel Networks Corp. <NT.TO> <NT.N> marched into record territory on Friday as several analysts said the firm, one of the world's largest communications companies, could better its sales forecasts.


Bullish projections for Nortel's fiscal 2000 revenue growth coincide with the conclusion of the first of a three-week road show Nortel is conducting in Canada, the United States and Europe with analysts and institutional investors.

"I think management is articulating a very compelling story in terms of demand fundamentals for the company," said Jim Parmalee, analyst at Credit Suisse First Boston Technology Group. "They're firing on all cylinders in terms of the key product areas."

Several analysts told Reuters that they believe Nortel may surpass corporate projections of 20-21 percent revenue growth in 2000 with 25 percent growth.

"The momentum on the optical front is very strong and I think they're probably willing to talk about it more now than before," said Truc Do, analyst with SoundView Technology Group.

"These guys obviously have some room for upside...for example, they're guiding people to 20-21 percent. I think they certainly can be higher than that."

Parmalee agreed. "We're officially carrying 21 percent and I believe there's a high probability they do 25 percent if not a little bit better," he said.


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