Market Overview

UPDATE: JP Morgan Downgrades Cisco Systems to Underweight on Sluggish Enterprise Spending

Share:
Related CSCO
The Gender Wage Gap: What It Means, Why It Matters And What's Changing
Baird Initiates Coverage On RingCentral At Neutral, Sees 7% Upside
Amid Persistent Takeover Talk, Maxim Sets Up For Possible Breakout (Investor's Business Daily)

JP Morgan downgraded Cisco Systems (NASDAQ: CSCO) from Neutral to Underweight and lowered the price target from $20.00 to $18.00.

JP Morgan said, "We believe Cisco is exposed to sluggish enterprise spending. We also see Cisco's risk/reward profile as more challenged at the current share price. Despite refocusing on its core businesses, streamlining its operations and prioritizing margins and earnings over revenue growth, we believe positive investor sentiment and Cisco's shares have gotten ahead of themselves. We believe investors should be using Cisco as a source of funds from current levels."

Cisco Systems closed at $21.03 on Wednesday.

Latest Ratings for CSCO

DateFirmActionFromTo
Aug 2016Argus ResearchMaintainsBuy
Aug 2016KeyBancMaintainsOverweight
Aug 2016Deutsche BankMaintainsBuy

View More Analyst Ratings for CSCO
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (CSCO)

View Comments and Join the Discussion!