Two firms released different ratings on wireless vendor Lucent Technologies Inc. Deutsche Bank Securities maintained a hold rating, while Independent Research Group upgraded Lucent from sell to neutral.
In a research note, DBS analyst George Notter attributed the rating to expected weak second-quarter sales owing to concerns about business with Verizon Wireless and India Reliance Infocom.
Noting that its 16-percent net gain by Lucent and Nortel Networks Ltd. met its target, Independent Research Group decided on the upgrade.
“Our neutral rating is based on our view that the company is fairly valued trading at a 2004E EV/sales ratio of 1.0x,” said the company.
