Cisco (CSCO) Earnings Preview - Loop Capital
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Loop Capital analyst Fahad Najem reiterated a Buy rating and $71.00 price target on Cisco (NASDAQ: CSCO) ahead of FY3Q22 results and guidance which the analyst expects to be "at least in-line to more like upside". The company is reporting on Wednesday, May 18th AMC.
The analyst stated "Overall, our checks indicate some initial degree of macro-related challenges.
However, these challenges stem from high inflation, global supply-chain shocks, and the
ongoing Russia-Ukraine crisis have been readily observable and are relatively well known.
The real question, we think, is whether the softening in end-demand is transitory or a sign
of further weakness."
Shares of Cisco closed at $49.00 yesterday.
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