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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (43961)	11/6/2001 10:37:36 AM
From: stockman_scott	Respond to of 65232

Just Like Clockwork...Analysts Raise Cisco Systems Estimates Tuesday November 6 9:40 AM ET <<CHICAGO (Reuters) - Several analysts raised their earnings estimates for networking giant Cisco Systems Inc. (Nasdaq:CSCO - news) on Tuesday after the company reported better-than-expected quarterly results. San Jose, California-based Cisco on Monday posted fiscal first-quarter earnings, before a number of unusual items, of $332 million, or 4 cents a share. Analysts' consensus profit forecast was 2 cents a share. Cisco said its sales fell 32 percent, to $4.45 billion from $6.52 billion a year earlier, but topped Wall Street estimates and were up from the previous quarter's $4.3 billion, the first time that has occurred this calendar year. Cisco shares closed on Monday at $17.90 on the Nasdaq stock market and were bid at $18.45 in pre-opening dealings this morning. So far this year the stock has outperformed its peers in the American Stock Exchange Networking (^NWX - news) index by about 19 percent. Credit Suisse First Boston analyst Lissa Bogaty, in a research report, said Cisco's strong performance led her to raise her fiscal 2002 earnings estimate to 21 cents a share from 15 cents. She increased her fiscal 2003 estimate to 41 cents a share from 37 cents, and raised her price target for the stock to $23 from $18. ABN Amro analyst Kenneth Leon, in a research note, raised his rating on Cisco to ``buy'' from ``add,'' citing signs of growth ahead. He increased his fiscal 2002 earnings estimate to 23 cents a share from 12 cents, and raised his revenue estimate to $19 billion from $17.1 billion. He set fiscal 2003 estimates at 40 cents a share on revenues of $22.8 billion. Lehman Bros. analyst Tim Luke, in a report, boosted his rating on Cisco to ``buy'' from outperform'' and raised his price target to $23 from $20. He doubled his fiscal 2002 earnings estimate to 22 cents a share. SG Cowen analyst Christin Armacost, in a research note, raised her fiscal 2002 estimates to 25 cents a share and sales of $18.7 billion, from 16 cents and $17.7 billion. She raised her fiscal 2003 estimates to earnings of 39 cents a share and sales of $21.6 billion, from 34 cents and $20.6 billion previously. Armacost reiterated her ``buy'' rating and $23 price target on Cisco. UBS Warburg analyst Nikos Theodosopoulos, in a report, raised his 2002 estimate to 22 cents a share from 13 cents, and increased his 2003 estimate to 41 cents from 35 cents. He also raised his 12-month price target for the stock to $23.50 from $20.>>