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

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