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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 74.59

+0.3%

Jan 23 9:30 AM EST

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To: JakeStraw who wrote (53074)	5/17/2001 8:13:55 AM
From: kvkkc1	Read Replies (1) of 77400

re: First Union believes that an appropriate price-to-earnings multiple for a stock with a 20% growth rate is between 20 and 30 times the forward-year earnings, implying a trading range of between $10 and $15. Earnings estimates for calendar 2002 remain unchanged at $0.50. Fiscal year EPS forecasts for 2001 and 2002 are $0.39 and $0.24, respectively. > These guys can't write a coherent report. If they believe that growth will return to 20%, and they believe in their own earnings estimates, how do they come up with a valuation range of $10-$15. Using the high end of the 20-30% range, you get a $7.20-$11.70 valuation range. Tell me why these guys have any credibility. Kind of like nycboy calling a 2000 point range on a 2200 point index, worthless.knc

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