NEW YORK (MarketWatch)
Cisco Systems Inc. was
downgraded on Thursday to underweight from neutral at J.P. Morgan Chase, which
also reduced its price target on the stock to $18 from $20
The brokerage said
that Cisco is exposed to sluggish enterprise spending
"Despite refocusing on
its core businesses, streamlining its operations and prioritizing margins and
earnings over revenue growth, we believe positive investor sentiment and Cisco's
shares have gotten ahead of themselves," J.P. Morgan analysts wrote in a note
"We believe investors should be using Cisco as a source of funds from current
levels."
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The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
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