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Fly News Breaks for July 10, 2019
ACIA, CSCO
Jul 10, 2019 | 07:18 EDT
Cisco Systems (CSCO) continues to strengthen its core networking portfolio with the announcement of its intention to acquire Acacia Communications (ACIA), JPMorgan analyst Samik Chatterjee tells investors in a research note. While the deal's valuation represents a "strong" premium to the other publicly traded optical assets, it does present a "very strong" strategic rationale in expanding and strengthening Cisco's core optical portfolio, adds the analyst. He reiterates an Overweight rating on Cisco with a $60 price target.
News For CSCO;ACIA From the Last 2 Days
