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Drexel sees solid quarter coming for Cisco based on execution

Published 11/14/2016, 04:23 PM
Drexel sees solid quarter coming for Cisco based on execution
CSCO
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  • Cisco Systems (NASDAQ:CSCO) is set to report on its first quarter Wednesday, and Drexel Hamilton is looking for a beat based on continuing solid execution.
  • The stock has a depressed valuation, figures analyst Brian White, who has a Buy rating and target price of $37, implying near 18% upside from today's close.
  • “Trends across the tech supply chain as it relates to networking/telecom programs and demand within our networking coverage this earnings season were a bit healthier compared to a year ago," he writes. "As such, we feel comfortable with the overall demand backdrop for Cisco but we also don't expect meaningful revenue upside.”
  • He sees EPS of $0.59 and revenue of $12.28B for Cisco's fiscal Q1, vs. consensus expectations for $0.59 EPS and revenue of $12.329B. Drexel expects fiscal Q2 EPS of $0.59 and revenue of $12.16B, in line with other analysts.

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