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

Bloomberg Customers

Markets & Finance

CIBC Lowers JDS to Hold

CIBC World cut its investment recommendation on shares of JDS Uniphase (JDSU)to hold from buy.

Analyst James Jungjohann says visibility has worsened for telecom carriers and optical system manufacturers for 2002. He thinks shares could be as much as 50% overvalued. JDS trades at about 6.2 times his $866M calendar year 2002 sales estimates -- a large premium to a group which trades just over parity at 0.3 times. He notes that Ciena trades at 3.7 times and there appears to be no reason why JDS shares couldn't trade down to $4, a 24% drop from current levels. He says that the carrier's revenues also keep falling. The analyst widens his $0.08 fiscal 2002 (June) per share loss to $0.10 and cuts his breakeven forecast for fiscal 2003 to a loss of $0.09.

blog comments powered by Disqus