FedEx, Splunk and Marvell rise premarket; Cisco, Broadcom fall

Cisco (CSCO) PT Raised to $76 at Tigress Financial Partners

Tigress Financial Partners analyst Ivan Feinseth raised the price target on Cisco (NASDAQ: CSCO) to $76.00 while maintaining a Buy rating.

The analyst comments "

We reiterate our Buy rating on CSCO and increase our 12-month target price to $76 as CSCO will continue to benefit from increasing demand for smart AI-driven high-speed networks bandwidth and security and the recently announced acquisition of software developer Splunk (SPLK-US, Non-rated) further accelerates its security and AI capabilities, increases the ongoing growth of its services revenue and adds an additional upside catalyst. Yesterday, CSCO announced the acquisition of Splunk (SPLK-US,... More

Splunk (SPLK) PT Raised to $157 at Mizuho Securities, 'we're curious if CSCO will make significant changes to pricing'

Mizuho Securities analyst Gregg Moskowitz raised the price target on Splunk (NASDAQ: SPLK) to $157.00 (from $116.00) while maintaining a Neutral rating.

The analyst comments "...our checks have routinely indicated that SPLK's pricing remains a high barrier for significant adoption, and if anything this has... More

Splunk (SPLK) PT Raised to $157 at Truist Securities, 'favorable outcome for SPLK shareholders'

Truist Securities analyst Joel Fishbein Jr. raised the price target on Splunk (NASDAQ: SPLK) to $157.00 (from $130.00) while maintaining a Buy rating.

The analyst comments "We see this morning's announcement as a highly positive outcome for Splunk shareholders. The company has continued to work... More

Cisco Systems' (CSCO) acquisition of Splunk (SPLK) a 'well-designed strategic poker move' says Wall Street analyst

Wedbush analyst Daniel Ives told investors in a note Thursday that the news this morning that Cisco Systems (NASDAQ: CSCO) will acquire Splunk (NASDAQ: SPLK) in a massive $28 billion deal "will send a ripple impact across the software/cyber security... More

Stifel on Splunk (SPLK) and Cisco (CSCO) Deal: 'this is a great outcome for Splunk shareholders'

Stifel analyst Brad Reback reiterated a Hold rating and {REMOVEPT} price target on Splunk (NASDAQ: SPLK).

The analyst comments "Overall we believe this is a great outcome for Splunk shareholders and is a testament to the work that CEO Steele, CFO Roberts and the rest of the senior leadership team has accomplished over the last several quarters to meaningfully improve the operational efficiency of the business while stabilizing ARR... More

Wolfe Stays Sidelined on Broadcom Limited (AVGO), 'will serve to dilute AVGO's exposure to AI related revenue'

Wolfe Research analyst Chris Caso reiterated a Peerperform rating and {REMOVEPT} price target on Broadcom Limited (NASDAQ: AVGO)

The analyst comments "Net, we think this report will cause investors to question the multiple being applied to the Google business. In... More

Evercore ISI on Broadcom Limited (AVGO): ' we would recommend using weakness to build position'

Evercore ISI analyst C.J. Muse reiterated an Outperform rating and $1,000.00 price target on Broadcom Limited (NASDAQ: AVGO).

The analyst comments "This morning, an article published by The Information claimed that Google is looking to replace AVGO as its custom ASIC supplier as early as 2027 in favor of in-house/MRVL driving the stock down 7% premarket. We note that Google is now on its 5th generation TPU working with AVGO and is the sole public customer within AVGOs offload-ASIC business (with revs of $2B+ in FY22 and $3B in FY23). To start, there has... More

Citi sees no alternative other than a Frontier Group Holdings downgrade following management comments

Citi analyst Stephen Trent downgraded Frontier Group Holdings, Inc. (NASDAQ: ULCC) to Neutral from Buy, lowering the price target on the stock to $5.50 from $16 per share in a note on Thursday.

Trent told investors that they were wrong about the power... More