Cisco's (CSCO) Buy Rating Maintained at Deutsche Bank

November 17, 2016 11:15 AM EST
Get Alerts CSCO Hot Sheet
Price: $30.11 +0.43%

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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Deutsche Bank maintained a Buy rating on Cisco (NASDAQ: CSCO) with a price target of $37. Analyst Vijay Bhagavath called its Q1 report "mixed," but he sees growth drivers in 2017 and beyond.

"Q1 beat: $12.35B / 61c versus consensus: $12.33B / 59c, offset by a weak Q2 guide: $11.36B to $11.60B / 55-57c versus consensus: $12.14B / 59c. The weak Q2 guide was attributed mainly to Service Provider orders down 12%. We take a 'glass half full' view on CSCO. We see CSCO, leveraging the power of its strong balance sheet and cash flow to 'double down' inorganically and through new products in Mega Themes: 1) Infrastructure Automation and Analytics; 2) Next Gen Security; 3) Cloud Managed Services (Meraki); 5) Internet of Things, etc. Maintain conviction on our +$3 Earnings Power view. Reiterate BUY and $37 PT on our updated FY17/18 estimates," said the analyst.

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 $31.57 yesterday.

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