Fly News Breaks for January 8, 2020
Jan 8, 2020 | 06:19 EDT
BofA analyst Tal Liani downgraded Cisco to Neutral from Buy with a price target of $52, down from $56, citing lack of catalysts in 2020. In a research note to investors, Liani says that while this may be reflected in Cisco's weak Q4 guidance, he expects pressures to continue into 2H20, with key risks including the Catalyst 9k campus switching cycle plateauing, ASC 606 and M&A tailwinds in FY19 hurting comps, and exceptional performance in Security and Applications potentially decelerating.
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