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5/16/2019, 9:16 AM (Source: TeleTrader)
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Cisco's results, guidance improve analyst calls

Three major investment firms maintained Cisco Systems Inc.'s ratings on Thursday. However, the information technology titan's claim the impact from the import tariffs in the trade war between the United States and China would be "very minimal" for the time being prompted a jump in share price targets. Credit Suisse, which has a neutral grade for the company based in San Jose, California, raised the level to $52 from $47 per share.

Morgan Stanley improved its view by only $2 to $51 per share and held onto the equal weight assessment, compared to a rise to $58 from $54 at Macquarie, which has Cisco in its outperform list.

Yesterday's release of the earnings report for the fiscal third quarter showed the sixth consecutive advance in revenue and the stock jumped more than 3% in postmarket trading. The company led by chief executive Chuck Robbins, who is overseeing the shift of focus toward software subscription, said its manufacturing exposure to China has been "greatly reduced."

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