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Strategies & Market Trends : Range Bound & Undervalued Quality Stocks

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To: JakeStraw who wrote (4205)	4/2/2001 10:28:10 AM
From: Esway	Read Replies (1) of 5499

They are gonna keep beating on CSCO till they hit sub 10. smartmoney.com <<Cisco shares have lost nearly 80% in the last year, yet even at their current $15 or so they may not be cheap. Morgan Stanley's Stix says there could still be some downside to come. Using Cisco's historical price/earnings ratio of 41, Cisco shares should be trading at $13 right now, while on the basis of its historical P/E relative to the Standard & Poor's 500, it would trade at $12. Stix thinks that Cisco ultimately will bottom out at $8 to $10, based on the company's average forward P/E of 29 from 1993-98. >>

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