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CSCO

Cisco

$50.66

-2.09 (-3.96%)

, NTAP

NetApp

$44.74

-2.25 (-4.79%)

08:07
08/15/19
08/15
08:07
08/15/19
08:07

Cisco price target lowered to $53 from $64 at RBC Capital

RBC Capital analyst Mitch Steves lowered his price target on Cisco (CSCO) to $53 after its "disappointing" Q1 guidance driven by the slowing macro environment and weakness in China revenues. Coupled with yesterday's weaker results from Netapp (NTAP), the analyst believes that the overall IT spending environment is slowing relative to consensus expectations, even though he still sees Cisco as a "better defensive name to own" within the hardware and networking sector. Steves is keeping his Outperform rating on the stock longer term based on its market-leading 50% share in network equipment and its ability to weather the current enterprise spending decline.

CSCO

Cisco

$50.66

-2.09 (-3.96%)

NTAP

NetApp

$44.74

-2.25 (-4.79%)

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CSCO Cisco
$50.66

-2.09 (-3.96%)

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.
08/15/19
JEFF
08/15/19
NO CHANGE
Target $54
JEFF
Buy
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.
NTAP NetApp
$44.74

-2.25 (-4.79%)

08/07/19
LEHM
08/07/19
INITIATION
LEHM
Equal Weight
NetApp initiated with an Equal Weight at Barclays
Barclays analyst Tim Long initiated Netapp with an Equal Weight rating and a price target of $47. Long noted that Netapp recently negatively pre-announced its July quarter results, "adding more uncertainty to the business," but also sees the company's softwarre and services business as "under-appreciated," and sees room for gross margin increases as the company's legacy business declines it closes the gap with other leading storage vendors.
08/12/19
JPMS
08/12/19
NO CHANGE
Target $62
JPMS
Overweight
Cisco pullback presents 'attractive' buying opportunity, says JPMorgan
JPMorgan analyst Samik Chatterjee sees an "attractive" buying opportunity with Cisco (CSCO) shares down 10% from its 52-week high. Recent investor concerns over a softer macro outlook and softening Enterprise IT spending following NetApp's (NTAP) negative preannouncement are overdone, Chatterjee tells investors in a research note. Both of Cisco's direct competitors in networking equipment, Arista Networks (ANET) and Juniper (JNPR), highlighted a strong Enterprise growth, Chatterjee tells investors in a research note. Further, Cisco's accelerating sales momentum driven by Campus switching and Security product cycle will allow the company to offset macro headwinds, adds the analyst. He keeps an Overweight rating on the shares with a $62 price target ahead of Cisco's fiscal Q4 results on August 14.
08/14/19
SRCH
08/14/19
DOWNGRADE
SRCH
Hold
NetApp downgraded to Hold from Buy at Summit Insights
08/15/19
COWN
08/15/19
NO CHANGE
Target $40
COWN
Underperform
NetApp price target lowered to $40 from $53 at Cowen
Cowen analyst Karl Ackerman lowered his price target on NetApp to $40 from $53 citing a downturn in storage spending which the analyst believes will impact all providers. He noted sales and cost action plans are already in place but he will await stabilization before becoming more constructive on the shares. Ackerman maintained his Underperform rating on NetApp shares.

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AEO

American Eagle

$15.40

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ANGI

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AAPL

Apple

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JPMorgan

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El Paso Electric

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GIG

GigCapital

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