Baird Cuts Cisco Systems to 'Neutral'
Baird downgraded Cisco Systems (CSCO ) to neutral from outperform following the company's earnings report. Analyst Kenneth Muth tells S&P MarketScope he is downgrading because the stock met his $18 price target. Based on channel checks and Cisco's conference call, he thinks business fundamentals are improving and would buy CSCO on weakness. He says the fourth quarter brought no real surprises; and revenues met his estimate, as did 15 cents pro forma EPS.
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.
- Smartphones Are Killing Americans, But Nobody’s Counting
- Why a Pub in the Middle of Nowhere Was Named the World’s Best Restaurant
- Gulf Coast Oil Spill May Be Largest Since 2010 BP Disaster
- Marc Faber Asked to Leave Sprott Board After Racist Report
- Airbus Snaps Up Bombardier Jet in New Challenge to Boeing