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Fly News Breaks for February 13, 2020
CSCO
Feb 13, 2020 | 07:31 EDT
Citi analyst Jim Suva says he expected the first half of 2020 to be difficult comps for Cisco Systems and that its January quarter results and April quarter outlook supported this view. While both the results and outlook were inline, the company's product orders were down 6%, which is worse than the down 4% three months ago, Suva tells investors in a post-earnings research note. This will create questions and concerns for investors, says the analyst, who responds by noting the comparisons are very difficult and don't get easier until the second half of the year. Nonetheless, Suva reiterates a Buy rating on Cisco with a target price of $55 and notes the company has a dividend yield of 2.9%.