Deutsche Bank Maintains a 'Buy' on Cisco (CSCO); Cutting Numbers on Weak Guidance
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Price: $24.68 -0.56%
Rating Summary:
32 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Rating Summary:
32 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Trade CSCO Now!
Deutsche Bank maintains a 'Buy' on Cisco (NASDAQ: CSCO) price target lowered from $24 to $22.
Analyst, Brian Modoff, said, "Good results (Q3 revenues: $11.59B ; $0.48 pro-forma EPS) – roughly inline on revenues; slight beat on EPS, versus DB and consensus. The weak Q4 guide ($11.59B / $0.45 on the mid point) is indicative of near-term macro-driven uncertainty in enterprise IT spending. We see Cisco a fundamentally sound business; treading cautiously, and see modest out-performance in the stock, based on potential for improving demand in 2H+. We remain with our Buy rating; noting meaningful 2H+ ramps in 10GE datacenter and Cloud rollouts, mobility, and video."
Deutsche Bank cuts FY12 EPS estimate from $1.53 to $1.49 and revs from $46.522 bln to $45.851 bln.
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 $18.78 yesterday, with a 52 week range of $13.30-$21.30.
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Analyst, Brian Modoff, said, "Good results (Q3 revenues: $11.59B ; $0.48 pro-forma EPS) – roughly inline on revenues; slight beat on EPS, versus DB and consensus. The weak Q4 guide ($11.59B / $0.45 on the mid point) is indicative of near-term macro-driven uncertainty in enterprise IT spending. We see Cisco a fundamentally sound business; treading cautiously, and see modest out-performance in the stock, based on potential for improving demand in 2H+. We remain with our Buy rating; noting meaningful 2H+ ramps in 10GE datacenter and Cloud rollouts, mobility, and video."
Deutsche Bank cuts FY12 EPS estimate from $1.53 to $1.49 and revs from $46.522 bln to $45.851 bln.
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 $18.78 yesterday, with a 52 week range of $13.30-$21.30.
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