Nomura Securities Reiterates a 'Buy' on Cisco (CSCO); Q3 Preview

Nomura Securities reiterates a 'Buy' on Cisco (NASDAQ: CSCO) price target of $24.00.

Analyst, Stuart Jeffrey, said, "FQ3 preview; anticipating a slight beat, backed by enterprise. We expect Cisco to deliver slightly ahead of consensus estimates of $11.6bn in revenue and $0.47 in EPS when the company reports FQ3 results after the close on 9 May. We forecast a gross margin beat at 62.4% and we see scope for gross margin upside vs its 61-62% guidance and 61.9% consensus, driven by better product mix and margin improvement in APAC. We view gross margins as a key driver in CSCO’s near-term investment case."

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 $19.12 yesterday.

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