Cisco: stock down on broker comments
(CercleFinance.com) - On Wednesday Barclays downgraded its rating on Cisco shares from "overweight" to "equal weight", reducing its target price for them from 56 dollars to 46 dollars.
In a sector report, the broker said that it was less optimistic about the network specialist's cloud and software businesses, while expressing concern about the impact of a slowdown in the economy and the sector in general on the group.
Barclays also said it expects faster growth from Cisco's software rivals, adding that Cisco's lag illustrates the shortfall in the US equipment maker's offerings.
Cisco shares closed down over 2% yesterday.
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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.
In a sector report, the broker said that it was less optimistic about the network specialist's cloud and software businesses, while expressing concern about the impact of a slowdown in the economy and the sector in general on the group.
Barclays also said it expects faster growth from Cisco's software rivals, adding that Cisco's lag illustrates the shortfall in the US equipment maker's offerings.
Cisco shares closed down over 2% yesterday.
Copyright (c) 2022 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.