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Fly News Breaks for August 16, 2018
CSCO
Aug 16, 2018 | 09:05 EDT
Needham analyst Alex Henderson kept his Hold rating on Cisco after its "solid" beat and raise Q4 results supported by "stronger global economic growth, new product strength, and 138M share buyback". The analyst notes that while revenue growth was better than modeled, it included the impact of the accounting changes to ASC 606 format. Henderson further states that Cisco's remaining $19B repurchase program should make the stock look "low risk", as its Switching business continues to shine and EMEA geography remains "especially strong".
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