UBS Warburg Reduces Cisco Estimates
UBS Warburg cut the 2001 EPS estimate on Conseco (CNC ).
Analyst Joanne Smith says Q2 results were a mixed bag, with the biggest disappointment being the annuity segment of the insurance division. She notes the company's new 2001 guidance of $0.85-$0.95, assuming market conditions and the sluggish economy persist. She says the reason for the guidance adjustment is similiar to that given by other companies.
But Smith adds that perception with Conseco is a bit different since it has yet to establish a proven track record. She cut the $1.00 2001 EPS estimate to $0.85, and reiterates hold.