Raj Srikanth is a paid tout from the Market Maker (his employer):
His report paints the obvious. As a share holder I see nothing new other than the same old stuff.
-Nat
SOURCE: Deutsche Banc Alex. Brown Inc.
Cisco Systems Inc. - Deutsche Banc Alex. Brown's Raj Srikanth Initiates Coverage With A Buy Rating
NEW YORK, Jan. 18 /PRNewswire/ -- Deutsche Banc Alex. Brown analyst Raj Srikanth launched coverage of Cisco Systems Inc. (Nasdaq: CSCO, $19.48) with a rating of BUY based on the following factors:
* Strong product portfolio complemented by a strong management team. Cisco
is the market share leader in most of its end-markets.
* Diversity in Customers, Products and Markets. Approximately 72%
enterprise/28% service provider, almost 50%/50% domestic/international.
* Growth ~ 20%. Srikanth believes that Cisco can grow 20% top line from a
combination of its core business, new emerging markets like wireless
LAN, SAN etc. and increased penetration of the carrier space.
* Valuation - $25 per share. Srikanth argues that Cisco should reap the
benefit of a market recovery earlier than any other large communications
equipment vendor. Based on a recovery scenario, he believes the stock
can trade at 50x's CY03E EPS of $0.50 leading to a price target of $25.
* Cisco is a Key Holding. Srikanth believes the company represents one of
the best investment vehicles in the technology sector because of its
strong balance sheet, including $19 billion in cash and investments, and
no debt.
Said Srikanth: ``Cisco is rapidly transitioning itself to become the global leader of the converged networks of the future.''
Deutsche Banc Alex. Brown represents the Investment Banking activities of Deutsche Banc Alex. Brown Inc. (US) and Deutsche Bank Securities Ltd. (Canada). Deutsche Banc Alex. Brown and Deutsche Bank Securities Ltd. are subsidiaries of Deutsche Bank AG. With assets of almost EUR 1 trillion and over 97,000 employees, Deutsche Bank offers its clients unparalleled financial services throughout the world in over 70 countries. It ranks among the leaders in Asset Management, Capital Markets, Corporate Finance, Custody, Cash Management and Private Banking. Deutsche Bank is organized in two customer-oriented Groups: ``Corporate and Investment Bank'' (CIB) and ``Private Clients and Asset Management'' (PCAM).
Cisco Systems Inc. company stock is optionable.
Deutsche Banc Alex. Brown Inc. maintains a net primary market in the common stock of Cisco Systems Inc.
Information herein is believed to be reliable and has been obtained from sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. Opinions, estimates, and projections constitute our judgement and are subject to change without notice. This publication is provided to you for information purposes only and is not intended as an offer or solicitation for the sale of any financial instrument. Deutsche Banc Alex. Brown Inc. and its affiliates worldwide, may hold a position or act as market maker in the financial instruments of any issuer discussed herein or act as advisor or lender to such issuer. Transactions should be executed through a Deutsche Bank entity in the client's home jurisdiction unless otherwise permitted by law. Deutsche Banc Alex. Brown Inc. is a member of NYSE and NASD.
SOURCE: Deutsche Banc Alex. Brown Inc. |
