Deutsche Bank Lowers Price Target on Cisco (CSCO), Looks Forward to September Analyst Day
Tweet
Share
E-mailGet Alerts CSCO Hot Sheet
Price: $111.68 -1.58%
Rating Summary:
35 Buy, 27 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
35 Buy, 27 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Deutsche Bank is maintaining its Hold rating on shares of Cisco (NASDAQ: CSCO) while lowering its price target by $1 to $17.
The company reported its Q4 results with $11.2 billion in revenue and EPS of $0.40, which fell inline with the company's guidance and the firms and Street's estimates.
The firm notes that signs of stabilization have been really encouraging this year, but due to current business trends they remain cautious.
CSCO experienced solid growth in its new product lines with strong order trends, as a slowdown in public sector spending and weaker margins resulted in poor revenue growth.
An analyst at Deutsche comments, "Further, we believe that the September Analyst Day is a meaningful milestone for helping to set realistic expectations on FY12/13 growth rates, margin profiles, and the makeup of Cisco’s overall portfolio. Structural issues in switching, lack of near-term visibility, and a weak macro is our basis for our neutral 12month outlook."
For more ratings news on Cisco click here and for the rating history of Cisco click here.
Shares of Cisco closed at $13.73 yesterday.
The company reported its Q4 results with $11.2 billion in revenue and EPS of $0.40, which fell inline with the company's guidance and the firms and Street's estimates.
The firm notes that signs of stabilization have been really encouraging this year, but due to current business trends they remain cautious.
CSCO experienced solid growth in its new product lines with strong order trends, as a slowdown in public sector spending and weaker margins resulted in poor revenue growth.
An analyst at Deutsche comments, "Further, we believe that the September Analyst Day is a meaningful milestone for helping to set realistic expectations on FY12/13 growth rates, margin profiles, and the makeup of Cisco’s overall portfolio. Structural issues in switching, lack of near-term visibility, and a weak macro is our basis for our neutral 12month outlook."
For more ratings news on Cisco click here and for the rating history of Cisco click here.
Shares of Cisco closed at $13.73 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Downgrades Cisco (CSCO) to Hold
- BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
- JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Deutsche BankSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
