Wedbush Maintains an 'Outperform' on Cisco (CSCO); Signs of Life; SDN - Expect M&A and R&D
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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
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Wedbush maintains an 'Outperform' on Cisco (NASDAQ: CSCO) price target of $21.00 (from $20.00).
Analyst, Rohit Chopra, said, "We maintain our rating due to reasonable valuation, our view that the company is well-positioned to weather a weak macro and a significant increase in the dividend. Consistent with our expectations, the company delivered a solid EPS beat and modest revenue beat in a difficult environment. Somewhat encouraging is that the overall environment doesn't appear to be getting worse and most markets (ex-U.S. federal) saw a slight pickup in orders in the 2H of FQ4..."
"We believe Cisco is well positioned to deliver profitable growth given its track record in navigating downturns, a broad portfolio of products, a new aggressive posture and management of expenses. We advise long-term, value investors looking for a well capitalized company that can weather an uncertain spending environment to own the stock." (FY13 EPS estimate raised from $1.93 to $1.95, FY14 at $2.07)
Separately, Chopra commented on SDN, which has the potential for challenges to commercial networking vendors, but expects CSCO to make acquisitions and seed new players (citing past deal Insieme).
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 $17.35 yesterday.
Analyst, Rohit Chopra, said, "We maintain our rating due to reasonable valuation, our view that the company is well-positioned to weather a weak macro and a significant increase in the dividend. Consistent with our expectations, the company delivered a solid EPS beat and modest revenue beat in a difficult environment. Somewhat encouraging is that the overall environment doesn't appear to be getting worse and most markets (ex-U.S. federal) saw a slight pickup in orders in the 2H of FQ4..."
"We believe Cisco is well positioned to deliver profitable growth given its track record in navigating downturns, a broad portfolio of products, a new aggressive posture and management of expenses. We advise long-term, value investors looking for a well capitalized company that can weather an uncertain spending environment to own the stock." (FY13 EPS estimate raised from $1.93 to $1.95, FY14 at $2.07)
Separately, Chopra commented on SDN, which has the potential for challenges to commercial networking vendors, but expects CSCO to make acquisitions and seed new players (citing past deal Insieme).
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 $17.35 yesterday.
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