Cisco Systems, Inc.
Sell-side analysts had plenty to say about one of Silicon Valley’s most notable companies.
BMO Capital Markets
BMO Capital Markets said revenue guidance disappointed and thus lowered estimates due to the diminished outlook. “The stock has typically performed well after revenue resets, and we expect the same dynamic this time around,” wrote BMO analysts Thursday.
BMO has a $33 price target on Cisco and maintains its Outperform rating.
Wells Fargo believes there is still some reasons for optimism despite the soft outlook Cisco provided in Q1. The bank highlighted several positives in the quarter, with enterprise orders up 5 percent, solid margins and deferred product revenue increasing 19 percent.
Wells Fargo did lower FY 2017 EPS estimates to $2.35 from $2.42, but maintains its Outperform rating.
Analysts at JMP signaled that Cisco is struggling with carrier slowdown. JMP indicated that Cisco’s results
JMP maintains its Market Perform rating on Cisco.
Jefferies analysts stated that investors should take January’s guidance Cisco provided with
Jefferies maintains its Buy rating and $35 price target on Cisco.
Deutsche Bank opted for the "glass half full" take on Cisco, believing the company will leverage the power of its strong balance sheet and cash flow to double down inorganically through new products.
The German bank maintains its Buy rating with a $37 price target.
Credit Suisse had a markedly different take, proposing that Cisco is “running out of levers” after disappointing revenue guidance. Credit Suisse maintains its Underperform rating with a target price of $25.
At final check before publication, Cisco shares were down 5.13 percent at $29.95 with less than 30 minutes left in Thursday's regular trading session.
|Oct 2016||Argus Research||Initiates Coverage On||Buy|
|Sep 2016||MKM Partners||Downgrades||Buy||Neutral|
|Sep 2016||Deutsche Bank||Maintains||Buy|
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