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BlueDahlia
2022-01-19

Cisco downgraded at Goldman Sachs as stock approaches target

Cisco (NASDAQ:CSCO) is being downgraded at Goldman Sachs, as the investment firm notes the IT networ

Cisco downgraded at Goldman Sachs as stock approaches target

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While the company&#39;s backlog is at a &#34;record high,&#34; the analyst said he thinks order growth is more important to the stock.</li><li>&#34;Given this we expect solid revenue contribution as Cisco works its way through this backlog,&#34; Hall wrote in a note to clients. &#34;However, should the decline in our EAI translate into IT capital spending weakness we would expect order growth to slow for CSCO. In our opinion, an order trajectory change and accompanying commentary on demand would likely be more important for Cisco’s stock than would backward looking backlog clearance.&#34;</li><li>Last week, Cisco (CSCO) was recommended as one of the top IT networking stocks at Evercore, with the firm expected to benefit from its exposure to hyperscalers, such as Google and Apple.</li></ul></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cisco downgraded at Goldman Sachs as stock approaches target</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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While the company's backlog is at a \"record high,\" the analyst said he thinks order growth is more important to the stock.\"Given this we expect solid revenue contribution as Cisco works its way through this backlog,\" Hall wrote in a note to clients. \"However, should the decline in our EAI translate into IT capital spending weakness we would expect order growth to slow for CSCO. In our opinion, an order trajectory change and accompanying commentary on demand would likely be more important for Cisco’s stock than would backward looking backlog clearance.\"Last week, Cisco (CSCO) was recommended as one of the top IT networking stocks at Evercore, with the firm expected to benefit from its exposure to hyperscalers, such as Google and Apple.","news_type":1},"isVote":1,"tweetType":1,"viewCount":458,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}