Merrill Lynch upgrades Jabil Circuit to Buy from Neutral, saying field checks suggest that EPS ests for the co are too conservative; firm also believes that recent concerns about the co's relationship with Cisco (~16% of sales) have been overblown, especially in the context of new program momentum, and firm thinks business with Cisco is on solid ground; raises FY04 est to $1.00 from $0.91 and initiates an FY05 est $1.22, both above consensus of $0.94 and $1.15. Target is $35.
also ...Merrill Lynch upgrading CSCO, MRVL, and HMT to Buy from Neutral
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