JUNE 6, 2006



Word on the Street


Deutsche Bank Cuts Brightpoint to Hold


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Standard & Poor's Equity Research
Deutsche Bank downgraded Brightpoint (CELL) to hold from buy, noting a shift in carrier competition that has favored accounts where the company is less well represented.


Analyst Brian Modoff adds that normal seasonality is reasserting itself for the industry, offering only modest growth this quarter. Pending further signs of market improvement, he cut his 2006 estimate of 87 cents earnings per share (EPS) on $2.5 billion sales to 80 cents EPS on $2.4 billion sales. For 2007, he cuts his $1.02 EPS estimate to $1.00, but keeps his sales estimate of $2.7 billion. He lowers his $26 target to $20.


All of the views expressed in this research report accurately reflect the research analyst's personal views regarding any and all of the subject securities or issuers. No part of analyst compensation was, is or will be, directly or indirectly related to the specific recommendations or views expressed in this research report.
Standard & Poor's Regulatory Disclosure

Any advice, analysis, or recommendations contained in articles labeled "Insight from Standard & Poor's" reflect the views of Standard & Poor's, which operates separately from and independently of BusinessWeek Online. It is possible that BWOL may from time to time publish information that is not consistent with advice, analysis, or recommendations that are published by Standard & Poor's. Standard & Poor's and BusinessWeek Online are each units of The McGraw-Hill Companies, Inc.
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