Cisco Systems (CSCO): Expecting In Line Quarter Which Should Be Viewed Favorably - RBC
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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.
Shares of Cisco closed at $31.36 yesterday.
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