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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 77.07

+0.3%

10:19 AM EST

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To: MHA who wrote (50697)	3/29/2001 4:47:00 PM
From: tonyt	Read Replies (2) of 77400

RESEARCH ALERT-CSFB cuts 2001, 2002 Cisco estimates NEW YORK, March 29 (Reuters) - Credit Suisse First Boston analyst Lissa Bogaty on Thursday cut fiscal 2001 and 2002 earnings estimates for networking giant Cisco Systems Inc. (NasdaqNM:CSCO - news), citing reduced customer spending and the global economic slowdown. Bogaty, in a research report, cut her fiscal 2001 estimate to 47 cents a share from 53 cents, and her 2002 estimate to 45 cents a share from 70 cents. She also cut her 12-month price target for the stock to $25 a share from $40. ``Even assuming an inventory write-down, the high level of inventories that Cisco looks destined to live with for this calendar year is likely to crimp the gross margin for at least another couple of quarters,'' Bogaty said. Cisco's stock was off 3/16 at $15-9/16 a share in Nasdaq trading.

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