Cisco price target lowered to $65 from $68 at Morgan Stanley

Morgan Stanley analyst Meta Marshall lowered the firm’s price target on Cisco (CSCO) to $65 from $68 and keeps an Overweight rating on the shares. Tariffs add more uncertainty into the networking spending market, where demand intentions were “strong, but weakening,” the analyst tells investors. The breadth of the tariffs announced on April 2 “leave little room to hide,” challenging margins, demand or both, the analyst added in a note on the telecom and networking equipment group.