US analyst predicts comms equipment recovery...
Published: 11 July 2002 07:43 GMT
Sales of telecommunications and networking equipment are on the way up according to a leading US analyst. The news sparked a boost in the share prices of leading vendors led by Cisco, which saw its stock market value rise 2.8 per cent last night.
Merrill Lynch has upgraded the telecoms sector from a 'buy' to a 'strong buy' after its own analysis pointed to a recovery in communications orders. Merrill's Samuel Wilson is quoted in today's FT forecasting a recovery in September.
However, he would not rule out a "final ugly dip" in the market at some point.
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