Cisco: Credit Suisse 'neutral' after results
(CercleFinance.com) - Credit Suisse maintains a "neutral" rating on Cisco, with a target price of 41 dollars, after the US network equipment maker posted "in-line" quarterly results.
The broker notes that, within products, the switching, wireless, and data center businesses all grew, while routing declined.
After these figures, Credit Suisse has raised its 2018 revenue estimate to 49.3 billion dollars from 49.1 billion dollars and has inched up its EPS estimate from 2.57 dollars to 2.58 dollars.
However, the broker points out that the transition towards recurrent revenue is moving "slightly slower than we expected."
"We identify Cisco as the leading and most dominant player across several communications/networking equipment markets, but remains in transition as they continue to shift their business towards a more software/recurring revenue model," it says.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker notes that, within products, the switching, wireless, and data center businesses all grew, while routing declined.
After these figures, Credit Suisse has raised its 2018 revenue estimate to 49.3 billion dollars from 49.1 billion dollars and has inched up its EPS estimate from 2.57 dollars to 2.58 dollars.
However, the broker points out that the transition towards recurrent revenue is moving "slightly slower than we expected."
"We identify Cisco as the leading and most dominant player across several communications/networking equipment markets, but remains in transition as they continue to shift their business towards a more software/recurring revenue model," it says.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.