New Street downgraded Cisco (CSCO) to Neutral from Buy with a price target of $70, down from $75, post the fiscal Q3 report. The recovery thesis has played out, the analyst tells investors in a research note. The firm now prefers to wait for a better entry point.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CSCO:
- Cisco’s Earnings Call: AI Growth and Tariff Concerns
- Mixed options sentiment in Cisco (CSCO), with shares up $2.98 (+4.87%) near $64.28
- “Increasing Confidence” Gives Cisco Stock (NASDAQ:CSCO) A Boost at Wells Fargo
- Dick’s to acquire Foot Locker, Walmart reports Q1 beat: Morning Buzz
- Early notable gainers among liquid option names on May 15th