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Bank Of America Sees Cisco Systems Executing Well In A Tough Environment

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In a report published Thursday, Bank of America analyst Tal Liani reiterated a Buy rating and $28.00 price target on Cisco Systems, Inc. (NASDAQ: CSCO).

In the report, Bank of America noted, “Cisco reported record first quarter revenues and EPS that beat consensus estimates. Sound execution and the success of new products drove the outperformance. However, the news was not all positive as guidance was well below estimates, down 4% QoQ (at the midpoint) or 3% below consensus forecasts. Management noted a tough spending environment within Service Providers and Emerging markets, which will offset share gains and new product ramp into F2Q. We adjust our model accordingly, slightly lowering estimates. Maintain our Buy rating and $28 PO.”

Cisco Systems closed on Wednesday at $25.11.

Latest Ratings for CSCO

DateFirmActionFromTo
Apr 2019MaintainsBuyBuy
Mar 2019MaintainsOverweightOverweight
Feb 2019ReiteratesNeutralNeutral

View More Analyst Ratings for CSCO
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Posted-In: Bank of America Tal LianiAnalyst Color Reiteration Analyst Ratings

 

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