Analysts Raise Cisco Systems Estimates
CHICAGO (Reuters) - Several analysts
raised their earnings estimates for
networking giant Cisco Systems Inc.
(Nasdaq:CSCO - news) on Tuesday after
the company reported better-than-expected
quarterly results.
San Jose, California-based Cisco on
Monday posted fiscal first-quarter earnings, before a number of
unusual items, of $332 million, or 4 cents a share. Analysts' consensus
profit forecast was 2 cents a share.
Cisco said its sales fell 32 percent, to $4.45 billion from $6.52 billion a
year earlier, but topped Wall Street estimates and were up from the
previous quarter's $4.3 billion, the first time that has occurred this
calendar year.
Cisco shares gained 57 cents Tuesday to close at $18.47 on the
Nasdaq stock market. So far this year the stock has outperformed its
peers in the American Stock Exchange Networking (^NWX - news)
index by about 19 percent.
Credit Suisse First Boston analyst Lissa Bogaty, in a research report,
said Cisco's strong performance led her to raise her fiscal 2002
earnings estimate to 21 cents a share from 15 cents. She increased her
fiscal 2003 estimate to 41 cents a share from 37 cents, and raised her
price target for the stock to $23 from $18.
ABN Amro analyst Kenneth Leon, in a research note, raised his rating
on Cisco to ``buy'' from ``add,'' citing signs of growth ahead. He
increased his fiscal 2002 earnings estimate to 23 cents a share from 12
cents, and raised his revenue estimate to $19 billion from $17.1 billion.
He set fiscal 2003 estimates at 40 cents a share on revenues of $22.8
billion.
Lehman Bros. analyst Tim Luke, in a report, boosted his rating on
Cisco to ``buy'' from outperform'' and raised his price target to $23
from $20. He doubled his fiscal 2002 earnings estimate to 22 cents a
share.
SG Cowen analyst Christin Armacost, in a research note, raised her
fiscal 2002 estimates to 25 cents a share and sales of $18.7 billion,
from 16 cents and $17.7 billion.
She raised her fiscal 2003 estimates to earnings of 39 cents a share and
sales of $21.6 billion, from 34 cents and $20.6 billion previously.
Armacost reiterated her ``buy'' rating and $23 price target on Cisco.
UBS Warburg analyst Nikos Theodosopoulos, in a report, raised his
2002 estimate to 22 cents a share from 13 cents, and increased his
2003 estimate to 41 cents from 35 cents. He also raised his 12-month
price target for the stock to $23.50 from $20.
Die Aussichten wurden auf der Earningsconference äußerst positiv dargestellt.
Ich persönlich bin eher skeptisch, aber CSCO ist in JEDEM Portfolio der großen Fonds drin und die werden schon drauf achten, dass der Wert nicht kollaboriert.
Gruß Dr. Broemme