Wedbush maintains an 'Outperform' on Cisco (CSCO); Solid Results, Weakening Macro
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Price: $24.79 -0.12%
Rating Summary:
32 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
32 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade CSCO Now!
Wedbush maintains an 'Outperform' on Cisco (NASDAQ: CSCO) price target lowered from $22 to $20.
Analyst, Rohit Chopra, said, "We maintain our rating as we believe the company is well-positioned to weather a weakening global spending environment given its broad portfolio and actions already taken to restructure the business ahead of its rivals. The company posted another solid quarter despite the spending environment, even as rivals suffer missteps...Despite the cautiousness, we think the company’s aggressive posture is paying off in terms of market share gains from key rivals such as HP (NYSE: HPQ) and Juniper (Nasdaq: JNPR).We advise long-term, value investors looking for a well capitalized company that can weather an uncertain spending environment to own the stock."
Wedbush cuts FY12 EPS estimate from $1.85 to $1.84 and FY13 from $2.02 to $1.93.
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, Rohit Chopra, said, "We maintain our rating as we believe the company is well-positioned to weather a weakening global spending environment given its broad portfolio and actions already taken to restructure the business ahead of its rivals. The company posted another solid quarter despite the spending environment, even as rivals suffer missteps...Despite the cautiousness, we think the company’s aggressive posture is paying off in terms of market share gains from key rivals such as HP (NYSE: HPQ) and Juniper (Nasdaq: JNPR).We advise long-term, value investors looking for a well capitalized company that can weather an uncertain spending environment to own the stock."
Wedbush cuts FY12 EPS estimate from $1.85 to $1.84 and FY13 from $2.02 to $1.93.
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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