Cisco: Jefferies remains buyer after Q1 results

(CercleFinance.com) - On Thursday, an analyst at Jefferies confirmed a "buy" recommendation on Cisco shares, after the group reported Q1 2019-20 adjusted net profit that is up 5% at 3.
6 billion dollars on Wednesday evening. This means adjusted EPS that is up 12% at 84 cents, i.e. three cents above the consensus.

The broker said, "Company reported last night and guided to a 3-5% Y/Y revenue decline for the Jan Q, a big slowdown vs the 4-5% growth they have been posting for F19. The slower trends are driven by the macro--trade war, Brexit, etc. Historically, the company has been very conservative when it has reduced expectations and weaker guidance has been followed by several quarters of outperformance."

Jefferies confirms its target price of 52 dollars for the share (upside of 7%).


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