Cisco (CSCO) PT Lowered to $40 at Deutsche Bank Following Mixed 3Q
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Price: $121.53 +1.66%
Rating Summary:
36 Buy, 26 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 18 | Down: 12 | New: 24
Rating Summary:
36 Buy, 26 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 18 | Down: 12 | New: 24
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Deutsche Bank lowered its price target on Cisco (NASDAQ: CSCO) to $40.00 (from $42.00) while maintaining a Buy rating. CSCO reported a 3Q revenue miss with $11.94B coming in below the Street's $11.90B estimate. EPS of 60c came in ahead of 58c estimates.
Management guided 4Q revenues of $11.88B to $12.13B, below the consensus estimate of $12.52B. EPS guidance of 60-62c is also weak compared to the Street's 62c.
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