Wells Fargo Maintains an 'Outperform' on Cisco; Adjusting Estimates, but Little Doubt CSCO Can Weather The Storm
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Price: $112.90 +1.09%
Rating Summary:
35 Buy, 27 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
35 Buy, 27 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Wells Fargo maintains an 'Outperform' on Cisco (NASDAQ: CSCO) price target range $20-22 from $23-25.
Analyst, JEss Lubert, said, "The weaker than expected outlook was attributed to macro concerns, which appear to be impacting customer spending patterns around the world. While economic headwinds may continue to present challenges in the coming months, we believe Cisco is well positioned to weather the storm with a strong product portfolio, robust balance sheet and a focused sales approach that appears to be driving share. Given these factors, we view Cisco as the most defensive name in our coverage group, with the potential to see a material rebound in the stock should data center and carrier spending improve later this year. Post FQ3, we reduce our FY2012E and FY2013E EPS from $1.86 and $2.02 to $1.84 and $1.93."
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 $18.78 yesterday.
Analyst, JEss Lubert, said, "The weaker than expected outlook was attributed to macro concerns, which appear to be impacting customer spending patterns around the world. While economic headwinds may continue to present challenges in the coming months, we believe Cisco is well positioned to weather the storm with a strong product portfolio, robust balance sheet and a focused sales approach that appears to be driving share. Given these factors, we view Cisco as the most defensive name in our coverage group, with the potential to see a material rebound in the stock should data center and carrier spending improve later this year. Post FQ3, we reduce our FY2012E and FY2013E EPS from $1.86 and $2.02 to $1.84 and $1.93."
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 $18.78 yesterday.
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