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CSCO

Cisco

$50.66

-2.09 (-3.96%)

08:05
08/15/19
08/15
08:05
08/15/19
08:05

Invstors overestimating sales growth inflection at Cisco, says Jefferies

Jefferies analyst George Notter lowered his price target for Cisco Systems to $54 from $62 and keeps a Buy rating on the shares. While Cisco guided below Street expectations for the October quarter, the growth rate inflection isn't as bad as it looks due to the lapping of ASC 606 adoption impact and less impact from acquisitions, Notter tells investors in a research note. As such, the analyst thinks investors are overestimating the size of the negative sales growth inflection at Cisco. Further, the company has traditionally been very conservative when reducing expectations, adds Notter.

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CSCO Cisco
$50.66

-2.09 (-3.96%)

08/15/19
MSCO
08/15/19
NO CHANGE
Target $49
MSCO
Equal Weight
Morgan Stanley on sidelines on Cisco until service provider spending recovers
Morgan Stanley analyst James Faucette said Cisco's business remained "remarkably resilient" over last year, but the tailwinds that have been helping are beginning to anniversary while its headwinds pick up. While Faucette acknowledges service provider, China and emerging markets are smaller collectively than enterprise, commercial and public sector, he thinks headwinds in the former areas will be too much for him to see much opportunity for upside. He has lowered his FY20 estimates slightly, citing dampened orders from China and service providers, and cut his price target on Cisco shares to $49 from $51 while maintaining an Equal Weight rating on the stock.
08/15/19
RILY
08/15/19
NO CHANGE
RILY
Buy
Infinera should be bought on any Cisco-related selloff, says B. Riley FBR
Cisco Systems (CSCO) may have further spooked investors last night with a soft outlook for the October quarter, but most of the weakness was in India and China, B. Riley FBR analyst Dave Kang tells investors in a research note. The Chinese weakness is irrelevant to Ciena (CIEN) and Infinera (INFN) since both companies have no presence in the Chinese market, adds the analyst. However, he points out that India accounts for 10% of Ciena's sales. As such, Kang is "incrementally concerned" about Ciena. India is negligible for Infinera, he notes. The analyst recommends taking advantage of any weakness in Infinera following Cisco's quarter.
08/15/19
MKMP
08/15/19
NO CHANGE
Target $51
MKMP
Neutral
Cisco price target lowered to $51 from $56 at MKM Partners
MKM Partners analyst Michael Genovese lowered his price target on Cisco to $51 and kept his Neutral rating after its Q4 results and below-consensus earnings guidance for Q1. The analyst notes that the quarter saw a deeper product order growth deceleration than investors expected amid slowing macro conditions, coming in flat vs. 4% in Q3 and 8% in Q2. Genovese further cites the 25% sequential decline in China sales and a "dramatic" fall in orders along with more difficult India comps after a large build-out last year. Genovese believes that Cisco is doing a "good job" of controlling what it can, but says he cannot get positive on the stock amid weakening macro conditions and decelerating order rates.
08/15/19
COWN
08/15/19
NO CHANGE
Target $61
COWN
Outperform
Cisco price target lowered to $61 from $65 at Cowen
Cowen analyst Paul Silverstein lowered his price target on Cisco to $61 from $65 citing its disappointing lowered guidance. The analyst said trends in the bulk of its businesses remain healthy supporting his view of a meaningful increase to its impressive margin structure and improving execution across most product and customer markets which is helping to insulate it from the macro backdrop. Silverstein reiterated his Outperform rating on Cisco shares.

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$42.90

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WYND

Wyndham Destinations

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UNVR

Univar

$19.03

0.075 (0.40%)

09:38
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Univar management to meet with SunTrust »

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TGT

Target

$103.11

17.54 (20.50%)

09:37
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VWAGY

Volkswagen

$0.00

(0.00%)

, TSLA

Tesla

$220.89

-4.81 (-2.13%)

09:32
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Periodicals
Volkswagen tells Bloomberg that Tesla stake speculation 'unfounded' »

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VWAGY

Volkswagen

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Tesla

$220.89

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IRBT

iRobot

$66.37

-1.04 (-1.54%)

09:32
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iRobot analyst commentary at JPMorgan »

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KMI

Kinder Morgan

$20.39

0.24 (1.19%)

, PBA

Pembina Pipeline

$36.77

-0.03 (-0.08%)

09:30
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Upgrade
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KMI

Kinder Morgan

$20.39

0.24 (1.19%)

PBA

Pembina Pipeline

$36.77

-0.03 (-0.08%)

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DSGX

Descartes Systems

$35.57

0.945 (2.73%)

09:30
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Descartes Systems initiated  »

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PMI Composite FLASH Manufacturing â€' Level to be reported at 09:45 »

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PMI Composite FLASH â€' Level to be reported at 09:45 »

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VWAGY

Volkswagen

$0.00

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Tesla

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Volkswagen seeks to take stake in Tesla, Reuters reports »

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SMPL

Simply Good Foods

$27.35

0.55 (2.05%)

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UPLD

Upland Software

$42.75

0.38 (0.90%)

09:27
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UPLD

Upland Software

$42.75

0.38 (0.90%)

09:25
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Earnings
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09:25
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JPMorgan alternative energy analyst to hold an analyst/industry conference call »

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WORK

Slack Technologies

$30.81

0.315 (1.03%)

09:24
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SMAR

Smartsheet

$52.20

1.015 (1.98%)

09:24
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ZM

Zoom Video

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PEGI

Pattern Energy

$25.83

0.23 (0.90%)

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Brookfield

$51.95

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WCC

Wesco

$43.29

-0.12 (-0.28%)

09:22
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Wesco rating change  »

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