Cantor Fitzgerald Downgrades Cisco (CSCO) to Hold on Recovery Push-Out Concerns EPS 1Q
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Price: $24.01 --0%
Rating Summary:
32 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 24 | New: 12
Rating Summary:
32 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 24 | New: 12
Trade CSCO Now!
Cantor Fitzgerald downgraded Cisco (NASDAQ: CSCO) from Buy to Hold with a price target of $19.50 (from $20.50).
The firm comments, "We are downgrading Cisco shares from BUY to HOLD while
lowering our price target to $19.50 from $20.50. Following a multiple-led 26%
appreciation from the lows of July 12th, we view there to be mounting evidence
to support risk that the recovery thesis is delayed another one to two quarters.
Absent positive estimate or multiple bias over this period, we view the shares
as likely range-bound."
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 $18.85 yesterday, with a 52 week range of $14.96-$21.30.
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The firm comments, "We are downgrading Cisco shares from BUY to HOLD while
lowering our price target to $19.50 from $20.50. Following a multiple-led 26%
appreciation from the lows of July 12th, we view there to be mounting evidence
to support risk that the recovery thesis is delayed another one to two quarters.
Absent positive estimate or multiple bias over this period, we view the shares
as likely range-bound."
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 $18.85 yesterday, with a 52 week range of $14.96-$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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