Cisco Systems (CSCO): Expecting In Line Quarter Which Should Be Viewed Favorably - RBC

November 14, 2016 6:22 AM EST
Get Alerts CSCO Hot Sheet
Price: $30.10 +0.40%

Rating Summary:
    32 Buy, 25 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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RBC Capital analyst, Mitch Steves, reiterated his Outperform rating on shares of Cisco (NASDAQ: CSCO) ahead of the October quarter conference call noting a positive bias towards the gross margin line but a cautious stance on y/y revenue growth.

The analyst thinks results will be largely in-line overall. Top-line results likely track towards to the mid-point of guidance or slightly lower (-1% to 1% growth), however Gross Margins should remain at ~64%. If revenues are just below the mid-point of guidance and gross margins remain stable or improve, the results will be seen favorably. No change to the price target of $35.

For an analyst ratings summary and ratings history on Cisco click here. For more ratings news on Cisco click here.

Shares of Cisco closed at $31.36 yesterday.

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