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Fly News Breaks for April 5, 2016
CSCO
Apr 5, 2016 | 06:54 EDT
BofA.Merrill downgraded Cisco to Neutral while raising the price target to $30 from $27 on shares. The firm sees growth challenges over the next three years from a slowing underlying market, core segment share losses, and uncertainty in Cisco's position in the software oriented markets like Software-Defined Networking and Network Functions Virtualization. Further, BofA/Merrill sees limited margin upside, a low likelihood of further significant dividend increases, and limited catalysts to move shares higher.
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