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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: Michail Shadkin who started this subject5/4/2001 10:03:44 AM
From: allen menglin chen   of 6873
 
CSCO, RFMD, SUNW news

09:59 ET Cisco Systems (CSCO) 18.07 -0.59 (-3.2%): -- Update -- Lazard Freres initiates coverage with an UNDERPERFORM rating and 12-month price target of $12. Firm's price target is based on stock trading at a 35 multiple, which is CSCO's mean for the 5-yr period from 1995-1999. Finds $2 bln write-off of raw material, most of which is probably less than 12 months old, excessive and troublesome

08:32 ET RF Micro Device (RFMD) 28.02: JP Morgan upgrades to BUY from LT Buy; says June quarter is completely booked for 20% sequential revenue growth. Premium valuation warranted given growth prospects and strong relationship with Nokia.

09:05 ET Sun Microsystems (SUNW) 19.80 -0.64: Bernstein is cautious on SUNW; believes that FY02 revenue growth will be closer to 9-10% than the company's 15% guidance, and sees further downward revisions as a result. Believes that a good entry point for SUNW is $13-15.
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