First Global Cuts Cisco (CSCO) to Moderate Underperform
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Price: $24.24 +1.47%
Rating Summary:
32 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
32 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CSCO Now!
First Global downgrades Cisco Systems (Nasdaq: CSCO) from 'Market Perform with Outperform Bias' to 'Moderate Underperform'. The downgrade follows Cisco's lower-than-expected earnings and guidance reported last week.
The firm says, "Management has guided for a revenue growth of 18-20% Y-o-Y for Q1 FY11, which is much lower than the growth of 27% Y-o-Y recorded by the company for the last couple of quarters. Going forward, data centre virtualization, cloud computing, smart grid, media solutions, virtual healthcare, and virtual education are expected to become the major growth drivers for CSCO. However, management plans to continue increasing headcount, which appears risky, given the softening trend in business being witnessed by CSCO’s customers."
To see all the upgrades/downgrades on shares of CSCO, visit our Analyst Ratings page.
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP)-based networking and other products to the communications and IT industry worldwide.
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The firm says, "Management has guided for a revenue growth of 18-20% Y-o-Y for Q1 FY11, which is much lower than the growth of 27% Y-o-Y recorded by the company for the last couple of quarters. Going forward, data centre virtualization, cloud computing, smart grid, media solutions, virtual healthcare, and virtual education are expected to become the major growth drivers for CSCO. However, management plans to continue increasing headcount, which appears risky, given the softening trend in business being witnessed by CSCO’s customers."
To see all the upgrades/downgrades on shares of CSCO, visit our Analyst Ratings page.
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP)-based networking and other products to the communications and IT industry worldwide.
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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