Analysts See Risk to Cisco (CSCO) F1Q Revs but EPS Should Deliver, Valuation Not an Issue
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Price: $48.32 --0%
Rating Summary:
27 Buy, 29 Hold, 1 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 10 | Down: 8 | New: 8
Rating Summary:
27 Buy, 29 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 8
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A day ahead of the tech giants quarterly earnings report, Nomura Securities maintained a Buy rating on Cisco (NASDAQ: CSCO) with price target of $22.00.
Analyst said macro issues have the potential to lead to downside in the company's fiscal 1st-quarter results, especially on revenue, but cost controls should help it deliver on EPS.
"Results from industry peers point to a challenging IT spending environment. On average, CQ3 revenue results from large-cap tech companies fell short of expectations by 1.9%, while small caps were down by 0.9%. Common themes from earnings included: continued weakness in EMEA, soft US enterprise and federal spending, and weakness in hardware investment," said analyst Stuart Jeffrey.
"Despite the challenging outlook, we see limited risk to Cisco's valuation multiples relative to its peers," added Jeffrey.
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 $16.82 yesterday.
Analyst said macro issues have the potential to lead to downside in the company's fiscal 1st-quarter results, especially on revenue, but cost controls should help it deliver on EPS.
"Results from industry peers point to a challenging IT spending environment. On average, CQ3 revenue results from large-cap tech companies fell short of expectations by 1.9%, while small caps were down by 0.9%. Common themes from earnings included: continued weakness in EMEA, soft US enterprise and federal spending, and weakness in hardware investment," said analyst Stuart Jeffrey.
"Despite the challenging outlook, we see limited risk to Cisco's valuation multiples relative to its peers," added Jeffrey.
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 $16.82 yesterday.
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