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CSCO

Cisco

$50.66

-2.09 (-3.96%)

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

Cisco growth drivers ebbing, says Needham

Needham analyst Alex Henderson is keeping his Hold rating on Cisco after its Q4 results, saying that a slowing macro environment is looming while the company's growth drivers are "ebbing". The analyst notes that the company had benefited from a "major upgrade cycle" in Campus that is now approaching three years old and expects the annualized price hikes along with lower tax rates to slow earnings growth. Henderson adds that the bull thesis on Cisco will be further tested since the company will not be a "meaningful 5G play any time soon" and given the "choppy" Data Center spending backdrop.

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CSCO Cisco
$50.66

-2.09 (-3.96%)

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.
08/15/19
RBCM
08/15/19
NO CHANGE
Target $53
RBCM
Outperform
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.

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MXIM

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GLD

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DMPI

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RTN

Raytheon

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NTLA

Intellia Therapeutics

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GD

General Dynamics

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NVLN

Novelion Therapeutics

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LMT

Lockheed Martin

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ONCS

OncoSec

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TNXP

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ATIS

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CVEO

Civeo

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AGO

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RMED

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LQDA

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