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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Zoltan! who wrote (32066)	2/9/2000 10:48:00 AM
From: Lynn	Read Replies (1) \| Respond to of 77399

Here's a bit from ML's latest research report on CSCO titled, "Cisco Systems: What More Could We Ask For?" and dated today: 12 Month Price Objective: $160 Investment Highlights: · Cisco reported much better than expected revenues and EPS for the January 2000 quarter. Revenues increased by 53% to $4.35 billion, about $475 million higher than our expectations. The company reported operating EPS of $0.25 versus operating EPS of $0.17, above consensus expectations of $0.23. · We are increasing our fiscal 2000 EPS estimate from $1.00 to $1.03, our fiscal 2001 EPS estimate from $1.30 to $1.33, and our 3-5 year EPS growth rate from 30% to 35%. With Cisco's continued stellar performance, we believe that the stock should trade at 3-times its growth rate, or 105-times our calendar 2001 EPS estimate of $1.52. Fundamental Highlights: · A robust book-to-bill ratio, strong order growth, and new market opportunities should lead to almost 50% revenue growth in fiscal 2000. This would be an amazing accomplishment for a company with over $12 billion in sales in fiscal 1999. · To address the new market opportunities, management expects to increase its investment in sales and R&D expenses over the next several quarters. [end of ML] Love that title! Lynn