Goldman Sachs Trims Numbers, But Keeps Bullish View on Cisco (CSCO)
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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: 12 | Down: 19 | New: 22
Rating Summary:
32 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade CSCO Now!
Goldman Sachs trimmed estimates and its price target on Cisco (NASDAQ: CSCO) from $26 to $24 following Q3 results and lower Q4 guidance, but is keeping its Buy rating.
"Cisco's quarter was characterized by solid execution, and we attribute its weaker-than-expected guidance to macro and market factors, rather than company-specific issues," the analyst said. They note Q3 gross margin of 63.1% was ahead of its guidance of 61.5%-62.0% and GS/Street at 62.3%/61.9%. This has been the key driver of their Buy thesis.
Goldman trims FY12/FY13/FY14 (FYE July) EPS estimates to $1.84/$1.93/$2.08 from $1.89/$2.09/$2.23.
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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"Cisco's quarter was characterized by solid execution, and we attribute its weaker-than-expected guidance to macro and market factors, rather than company-specific issues," the analyst said. They note Q3 gross margin of 63.1% was ahead of its guidance of 61.5%-62.0% and GS/Street at 62.3%/61.9%. This has been the key driver of their Buy thesis.
Goldman trims FY12/FY13/FY14 (FYE July) EPS estimates to $1.84/$1.93/$2.08 from $1.89/$2.09/$2.23.
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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