Cisco (CSCO) Checks Point Toward Solid Performance in January
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Price: $24.82 +0.49%
Rating Summary:
32 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
32 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade CSCO Now!
Checks point to potential upside in Cisco's (Nasdaq: CSCO) January quarter, according to analysts at Oppenheimer. In a research note, analysts at the firm said they see a solid pipeline building into FY3Q13.
"Based on channel checks in the US/Europe (~70% of Cisco's sales), we see upside to Cisco's January quarter and a solid pipeline building into FY3Q13. Roughly 40% of our contacts expect a sequential increase in revenue with just 6% expecting a decline," said analyst Ittai Kidron.
"Overall, we favor Cisco as an industry leader executing in a tough macro. The company is becoming more focused and its growth in software should increase visibility and keep LT margins afloat," added the analyst.
Oppenheimer reiterated an Outperform rating on Cisco and raised its price target to $24.00 (from $22.00).
For an analyst ratings summary and ratings history on Cisco (Nasdaq: CSCO) click here. For more ratings news on Cisco click here.
Shares of Cisco closed at $20.83 yesterday, with a 52 week range of $14.96-$21.30.
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"Based on channel checks in the US/Europe (~70% of Cisco's sales), we see upside to Cisco's January quarter and a solid pipeline building into FY3Q13. Roughly 40% of our contacts expect a sequential increase in revenue with just 6% expecting a decline," said analyst Ittai Kidron.
"Overall, we favor Cisco as an industry leader executing in a tough macro. The company is becoming more focused and its growth in software should increase visibility and keep LT margins afloat," added the analyst.
Oppenheimer reiterated an Outperform rating on Cisco and raised its price target to $24.00 (from $22.00).
For an analyst ratings summary and ratings history on Cisco (Nasdaq: CSCO) click here. For more ratings news on Cisco click here.
Shares of Cisco closed at $20.83 yesterday, with a 52 week range of $14.96-$21.30.
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