Cisco (CSCO) Risk/Reward Balanced Despite Solid Quarter, Jefferies Says
Jefferies analyst George Notter reiterated a Hold rating and $24 price target on Cisco (NASDAQ: CSCO) saying risk/reward is balanced despite a another solid quarter.
otter comments, "Our impressions of Cisco’s forward-looking EPS power haven’t really changed exiting Q4 EPS results. We do feel incrementally better about the product transition in the Switching business. Moreover, we expect investors should feel some relief about the headcount reduction that Cisco will undertake over the next few quarters. With the stock trading in the $25 range, we think risk/reward remains balanced."
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Shares of Cisco closed at $25.20 yesterday.