Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

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.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Robbie Stephens Cuts Cisco Rating


Robertson Stephens downgrades its rating on Cisco (CSCO) to long term attractive from buy.

Analyst Paul Johnson says a key piece of the story is the increasingly aggressive competitive environment in which Cisco operates. Johnson says that if he's correct, which all signs indicate, next-generation companies such as Juniper, Redback and Extreme will be producing faster, denser and less expensive competitive products. He notes that management feels that the lower end of 30%-50% fiscal 2002 growth rate is more probable. Johnson cut his estimates substantially: $0.81 fiscal 2001 (July) EPS to $0.64, and $1.12 fiscal 2002 EPS to $0.75. Although the stock price may be seductive, Johnson says he downgraded his rating on the belief that the current company is merely a shadow of its former self.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus