Cisco (CSCO): Oppenheimer Checks Say July Results Tracking In Line
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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!
Oppenheimer channel checks of Cisco's (Nasdaq: CSCO) business in U.S./Europe, say July results are tracking in line with expectations, notes a report today.
"Our contacts point to solid demand in the US and a challenging environment in Europe," said analyst Ittai Kidron.
"Switching was highlighted as an area of strength while security, collaboration and wireless were mixed. Looking ahead, our checks point to a solid pipeline for October yet with Europe still a headwind. Thus, we expect flattish guidance with a small potential for upside. We expect management to address several areas of investor concern including the recent layoff announcement, VMW/Nicira's implications and the acquired NDS. Overall, we believe expectations were well managed."
Oppenheimer has an Outperform rating on Cisco (NASDAQ: CSCO) with a price target of $22.00.
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 $16.35 yesterday, with a 52 week range of $13.30-$21.30.
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"Our contacts point to solid demand in the US and a challenging environment in Europe," said analyst Ittai Kidron.
"Switching was highlighted as an area of strength while security, collaboration and wireless were mixed. Looking ahead, our checks point to a solid pipeline for October yet with Europe still a headwind. Thus, we expect flattish guidance with a small potential for upside. We expect management to address several areas of investor concern including the recent layoff announcement, VMW/Nicira's implications and the acquired NDS. Overall, we believe expectations were well managed."
Oppenheimer has an Outperform rating on Cisco (NASDAQ: CSCO) with a price target of $22.00.
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 $16.35 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
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