Deutsche Bank Maintains a 'Buy' on Cisco (CSCO); Cutting Numbers on Weak Guidance
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 maintains a 'Buy' on Cisco (NASDAQ: CSCO) price target lowered from $24 to $22.
Analyst, Brian Modoff, said, "Good results (Q3 revenues: $11.59B ; $0.48 pro-forma EPS) – roughly inline on revenues; slight beat on EPS, versus DB and consensus. The weak Q4 guide ($11.59B / $0.45 on the mid point) is indicative of near-term macro-driven uncertainty in enterprise IT spending. We see Cisco a fundamentally sound business; treading cautiously, and see modest out-performance in the stock, based on potential for improving demand in 2H+. We remain with our Buy rating; noting meaningful 2H+ ramps in 10GE datacenter and Cloud rollouts, mobility, and video."
Deutsche Bank cuts FY12 EPS estimate from $1.53 to $1.49 and revs from $46.522 bln to $45.851 bln.
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, Brian Modoff, said, "Good results (Q3 revenues: $11.59B ; $0.48 pro-forma EPS) – roughly inline on revenues; slight beat on EPS, versus DB and consensus. The weak Q4 guide ($11.59B / $0.45 on the mid point) is indicative of near-term macro-driven uncertainty in enterprise IT spending. We see Cisco a fundamentally sound business; treading cautiously, and see modest out-performance in the stock, based on potential for improving demand in 2H+. We remain with our Buy rating; noting meaningful 2H+ ramps in 10GE datacenter and Cloud rollouts, mobility, and video."
Deutsche Bank cuts FY12 EPS estimate from $1.53 to $1.49 and revs from $46.522 bln to $45.851 bln.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Downgrades Cisco (CSCO) to Hold
- Solar Industries (SOIL:IN) PT Raised to INR23,500 at ICICI Securities
- Zedcor Inc (ZDC:CN) PT Raised to Cdn$7.75 at Desjardins
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated 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!
