Goldman Sachs Switches Up Comm-Tech Coverage (CSCO, JNPR, RIMM, QCOM, ARUN, NTGR, PWAV)

Investing

Published: March 27, 2008 8:24 am

Goldman Sachs has made some changes this morning in its coverage team that analyzes communications technology. For starters, the overall stance on the group has been changed down to a Neutral view from an Attractive view.

Cisco Systems (NASDAQ: CSCO) was maintained as a Buy, but it was also added to The Conviction List as its 15.9 P/E is attractive and estimates are close to a bottom. Juniper Networks (NASDAQ: JNPR) was also switched to a new analyst and given a Neutral rating, down from a Buy rating. Despite a Neutral rating, Goldman Sachs does maintain a favorable long-term view of the stock. Research-in-Motion (NASDAQ: RIMM) and Qualcomm (NASDAQ: QCOM) were given Buy rating in interim coverage.

Here were some of the other major coverage changes:

Aruba Networks (NASDAQ: ARUN) was downgraded to Sell.
Netgear (NASDAQ: NTGR) and Powerwave (NASDAQ: PWAV) were maintained Neutral.
Starent (NASDAQ: STAR) was downgraded to Neutral.

Jon C. Ogg
March 27, 2008

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