Cisco: Jefferies still a buyer after quarterly results
(CercleFinance.com) - On Thursday an analyst at Jefferies confirms his "buy" rating on the Cisco share, despite the group reducing its guidelines for the next quarter (sales growth of between 0 and 2%, against 4-5% to date).
"We think the reaction to mgmt's revised guide is overdone," the analyst said, who still believes that the share's valuation is attractive.
Jefferies therefore confirms its target price of 54 dollars for the share.
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