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Fly News Breaks for February 13, 2020
CSCO
Feb 13, 2020 | 06:40 EDT
Nomura Instinet analyst Jeffrey Kvaal says Cisco Systems met expectations in fiscal Q2 and offered a "mildly more encouraging" view of the macro outlook over time. However, the company hit the numbers "left handed" as its Services unit appears to be driving results rather than the "higher multiple" Catalyst 9000 switch upgrade, Kvaal tells investors in a research note. The analyst lifted his low-end estimates modestly, his price target to $47 from $45, and keeps a Neutral rating on Cisco.
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