Cantor Fitzgerald Downgrades Cisco (CSCO) to Hold on Recovery Push-Out Concerns EPS 1Q

October 17, 2012 7:43 AM EDT
Get Alerts CSCO Hot Sheet
Price: $30.10 --0%

Rating Summary:
    32 Buy, 25 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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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.

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