Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

CIBC Lowers Investment Rating on Cisco to Hold

CIBC lowered it rating on Internet gear provider Cisco Systems (CSCO) to hold from buy, citing an increasingly difficult environment. The stock was off 1/4 at 36-1/4.

Analyst Stephen Kamman recommended underweighting Cisco as calendar year 2001 will be a difficult year due to the combination of falling service provider and information technology spending.

Kamman sees a significant risk of a multiple contraction in the sector in the first half of calendar year 2001. He does not think the company is well-positioned to meet changes in the telecom market.

Kamman doubts the company will make its fiscal year 2002 consensus revenue estimates and he believes the company will no longer be able to rely on appreciating stock as currency.

He sees fiscal year 2001 earnings per share of $0.79 and fiscal year 2002 EPS of $0.96.

blog comments powered by Disqus