Morgan Stanley Keeps Neutral on Cisco
Morgan Stanley sees stabilization in Cisco Systems' (CSCO ) North American enterprise market but maintains its neutral rating.
Analyst Chris Stix says recent data indicate that, while the North American enterprise networking market continues to be weak vs. last year, it appears to have stabilized, which is good news for Cisco.
Also, Stix thinks the Fed's third rate cut finally is having a positive impact on investor confidence, and should positively affect enterprise spending on IT infrastructure. While the improvement in the North American enterprise business is positive, it's only a third of the company's business: Cisco's service provider networking equipment business and international enterprise business (remaining 66%) still is weak. Stix maintains his neutral rating.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- In One Tweet, Kylie Jenner Wiped Out $1.3 Billion of Snap’s Market Value
- U.S. Companies Abandon the NRA as Boycott Call Grows
- China Regulator Seizes Anbang, Chairman Faces Fraud Prosecution
- Prime-Age Men May Never Return to U.S. Workforce, Fed Paper Says
- The Two Words That Will Help Get an Airline Upgrade Over the Phone