Lazard Keeps Cisco (CSCO) at Neutral; Conservative Guidance Should Ease Concerns

May 16, 2013 6:48 AM EDT Send to a Friend
Get Alerts CSCO Hot Sheet
Price: $23.78 +0.89%

Rating Summary:
    31 Buy, 19 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
Trade CSCO Now!
Join SI Premium – FREE
Cisco Systems (Nasdaq: CSCO) shares are indicated for a higher open following solid Q3 results and relatively in-line guidance issued Wednesday night.

Lazard Capital's Ryan Hitchinson commented that the light guidance was better than feared given weakness in the space. He comments, "Management's commentary suggested the pace of the recovery remains slow but steady, led by the U.S. and helped by signs of stabilization in the EU. With what has been a tough start to the year for the broader networking group, we think it is evident that continued execution and improved operational efficiencies have allowed Cisco to navigate through a challenging macro environment."

On Q3 numbers, Hutchinson noted that UCS continued to show "impressive" momentum, which was helped by Cisco's integrated solutions.

Hutchinson also believes management is remaining conservative amid improving demand trends. Negative sentiment surrounding the stock should ease as a result.

Lazard remains Neutral on Cisco with no price target.

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 $21.21 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS View

Related Entities

Lazard

Add Your Comment