UPDATE: Piper Jaffray Color On CSCO Target Decrease

), is providing some color on the stock. “In what's starting to become routine, Cisco disappointed investors with below consensus guidance for the July quarter,” Piper Jaffray writes. “It's now been almost a year since Cisco last reported a positive print and guidance and investor patience appears thin. “Management has acknowledged its mistakes through the recent implementation of a restructuring plan and divestitures of certain non-core consumer business lines, but we believe it will take several quarters to implement all the needed changes.” Cisco Systems closed Wednesday at $17.78.