Cisco (CSCO) PT Lowered to $40 at Deutsche Bank Following Mixed 3Q
Deutsche Bank lowered its price target on Cisco (NASDAQ: CSCO) to $40.00 (from $42.00) while maintaining a Buy rating. CSCO reported a 3Q revenue miss with $11.94B coming in below the Street's $11.90B estimate. EPS of 60c came in ahead of 58c estimates.
Management guided 4Q revenues of $11.88B to $12.13B, below the consensus estimate of $12.52B. EPS guidance of 60-62c is also weak compared to the Street's 62c.