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Wedbush maintains an 'Outperform' on Cisco (CSCO); Solid Results, Weakening Macro

May 10, 2012 10:05 AM EDT Send to a Friend
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Price: $24.85 +0.20%

Rating Summary:
    30 Buy, 20 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 14 | New: 24
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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.




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