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

To: Lynn who wrote (20007)	12/21/1998 10:56:00 AM
From: Zoltan!	Respond to of 77400

>>Maybe the CNBC fellow was merely repeating Friday news as partial explanation of CSCO performance so far today??? See what you think: UPDATE) Cisco Systems Stock Sets 52-Week High As SG Cowen Turns More Bullish Dow Jones Online News, Friday, December 18, 1998 at 17:47 NEW YORK -(Dow Jones)- Shares of Cisco Systems Inc. rose 6.6% to a 52-week high Friday after SG Cowen & analyst Chris Stix turned more bullish on the maker of networking products. Stix upgraded the stock to "strong buy" from "buy" and said he expects the shares to hit $105, but didn't provide a specific time frame. Cisco closed Friday at $90.438, up $5.563. Earlier, the stock rose as high as $90.625, past the previous 52-week ceiling of $85 set Wednesday. Volume of 21.6 million shares made it the most-active Nasdaq issue. In a research note, Stix said networking spending appears to be outpacing other information technology spending, and Cisco seems to be gaining share at the high end of the market. The upgrade marks a shift for Stix, who cut his rating on the stock to "buy" from "strong buy" in October on concerns that growth in the enterprise networking market could slow. But he said Friday that many enterprise customers are increasing their networking budgets. Stix believes Cisco will outpace the networking industry in growth next year on the strength of new products, end-to-end solutions and voice/data/video integration initiatives. The analyst expects Cisco soon will announce a new Catalyst 6500 Layer 3 local area networking switch and core ATM switch products for the wide area market. Stix said he believes Cisco will report strong results for its fiscal second quarter, which ends in January. The analyst projects the company earnings of 35 cents a share for the period, up from 29 cents a year earlier, and $1.45 for fiscal 1999 ending in July, up from $1.17 in fiscal 1998. He also raised his earnings estimate for fiscal 2000 to $1.86 from $1.77. schwab.com Regards

To: Lynn who wrote (20007)	12/21/1998 12:37:00 PM
From: Zoltan!	Respond to of 77400

Dow Jones Newswires -- December 21, 1998 Networking Stocks Climb On DLJ Cisco Price Target Increase NEW YORK (Dow Jones)--Data-networking stocks advanced in Monday's trading after Donaldson Lufkin & Jenrette analyst Stephen G. Koffler raised his 12-month share-price target on Cisco Systems Inc. (CSCO) to 120 from 80. In a research note, Koffler said the target increase assumes a multiple of 60 times the investment firm's calendar year 2000 earnings estimate of $2.00 a share. The analyst said Cisco deserves that price-to-earnings ratio because of its position as a leader in voice and data networks and its role in producing a fundamental building block of the Internet - the router. "As an Internet stock, Cisco is cheap," Koffler said in the note. "Without Cisco, there is no Internet, yet ... Cisco is valued far below the leading Internet companies." Koffler said Cisco also offers earnings reliability - something most Internet companies have yet to deliver. David Powers, an analyst at Edward Jones, said the DLJ news is at least partly behind the networking sector's upswing on Monday. However, anticipation of better-than-expected earnings from 3Com Inc. (COMS) for its second quarter also is driving optimism in the sector, he added. "The general sense in the market is that they're going to slightly exceed the estimate," he explained. A First Call Corp. consensus survey currently puts 3Com's earnings at 31 cents a share for the company's fiscal 1999 second quarter ended November. Cisco shares recently added 4 5/8, or 5.1%, to 95 1/16, while 3Com stock has climbed 2 1/4, or 5.0%, to 47. Elsewhere in the networking group, Ascend Communications Inc. (ASND) has risen 3 11/16, or 6.1%, to 63 3/4, Lucent Technologies Inc. (LU) is up 3 15/16, or 4.0%, to 102 5/16 and Newbridge Networks Corp. (NN) has gained 1 3/4, or 7.2% to 28 13/16. interactive.wsj.com