Qualcomm Inc (QCOM)

[Mindy]

China Unicom downgraded to "peer perform"

Monday, March 22, 2004 3:19:03 AM ET
Bear Stearns

http://www.newratings.com/new2/beta/article_398887.html

NEW YORK, March 22 (New Ratings) – Analyst Evan Erlanson of Bear Stearns downgrades China Unicom Limited (762.HK) to "peer perform."

In a research note published on March 19, the analyst mentions that the company is likely to face stiff competition in the wireless market in 2004. CDMA margins expansion would boost the company’s margins and revenue growth this year, Bear Stearns believes. China Unicom’s stock is an attractive investment option on account of the company’s healthy growth outlook and its attractive returns. The analyst says.