Lynn, cowen ahead of earning rates csco neutral. Initiating Cisco Systems At Neutral; Shares Fairly Valued - Cowen Comments
(RTTNews) - Wednesday, Cowen initiated coverage of Cisco Systems, Inc. (CSCO)
stock with a Neutral rating. The brokerage established its 2008 EPS estimate of
$1.54, and its 2009 estimate of $1.70.
lynn, thx. for the avrg of thread target. csco bouncing nicely off the S2 support filling yesterday's gap.
Maybe we can discuss OT here and create a csco news only thread. As many times i put info i find here just for my future ref. I think there is dell news only thread where discussions dont take place just info.
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Although analyst John Anthony believes that Cisco will expand its share of the
global communications and networking infrastructure markets over the long term,
he is concerned that its ability to grow in the near-term will be challenged by
a broad slowing of demand and intensifying competition.
Given these dynamics and given the lofty expectations surrounding Cisco's
near-term prospects, the analyst believes that it is prudent for investors to
remain on the sidelines until a clearer picture of end-demand emerges.
Although the analyst count ourselves among the consensus that expects Cisco to
report solid October-quarter results, he has encountered evidence throughout
the supply chain that suggests Cisco is experiencing a broad slowing of demand.
As such, the analyst's estimates are slightly below consensus expectations for
this year and next.
The analyst said that Cisco has a well-established track record of soundly
beating its competitors. Having said this, the analyst believes that the
competitive landscape will become more challenging for Cisco next year, as
Juniper steps up its efforts in the enterprise arena and as other companies
pursue the networking infrastructure markets.
The analyst believes shares of Cisco are fairly valued. Based on discounted
cash flow analysis, the analyst concludes that Cisco's shares are trading
within 5.0% of his discounted cash flow valuation range. Thus, the analyst
feels that they are fairly valued and he has assigned a Neutral rating.
Currently, the stock is down $0.50 or 1.47% and trading at $33.58. |
