NEW YORK, Nov 23 (Reuters) - PaineWebber said on Tuesday it started its coverage of computer networking firm Cisco Systems Inc. with a buy rating.
-- Set $125 price target.
-- "Cisco is the primary equipment beneficiary from the growth in data and the Internet."
-- "We expect Cisco to grow its revenue by more than 40 percent again in 2000 to over $17 billion."
-- "Cisco's movement into the faster growing and potentially much larger market of carrier-class data networking products will give rise to its next leg of growth."
-- Cisco's shares closed at 87-1/2 on Monday on the Nasdaq stock market.
((--Wall Street Desk, 212-859-1730))
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Tuesday, 23 November 1999 15:00:33
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-- Set $125 price target.
-- "Cisco is the primary equipment beneficiary from the growth in data and the Internet."
-- "We expect Cisco to grow its revenue by more than 40 percent again in 2000 to over $17 billion."
-- "Cisco's movement into the faster growing and potentially much larger market of carrier-class data networking products will give rise to its next leg of growth."
-- Cisco's shares closed at 87-1/2 on Monday on the Nasdaq stock market.
((--Wall Street Desk, 212-859-1730))
For related news, double click on one of the following codes:
[E] [U] [DPR] [US] [RCH] [LEN] [RTRS]
[CSCO.O\c]
For related price quotes, double click on one of the following codes:
Tuesday, 23 November 1999 15:00:33
RTRS [nN23460451]
