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

CS First Boston Cuts Cisco Outlook

Credit Suisse First Boston cut its estimates and price target on Cisco Systems (CSCO).

Analyst Lissa Bogaty says CEO John Chambers reportedly says customers are finding it increasingly difficult to project near-term prospects in a weak IT spending environment. Bogaty says Chambers' comments not only signals a somewhat more uncertain near-term outlook, but sends a slightly more muted message about long-term prospects.

Bogaty cut her 10% long-term growth projection to 9%. She believes the profitability backdrop that supports IT spending is deteriorating in the near term and is creating risk to continued sequential growth. She cut her $19.6 billion fiscal 2003 (July) revenue estimate to $19.3 billion, and trimmed the $0.58 earnings per share estimate to $0.56. She also cut the $21.2 billion fiscal 2004 revenue estimate to $20.8 billion, and cut the $0.69 earnings per share estimate to $0.66.

Finally, Bogaty lowered the $0.63 calendar 2003 earnings per share estimate to $0.60 and cut the $15 target to $12.50.

blog comments powered by Disqus