Cisco price target lowered to $55 from $63 at Evercore ISI

Evercore ISI lowered the firm’s price target on Cisco to $55 from $63 and keeps an In Line rating on the shares. Cisco reported strong upside in its October-end quarter, but “the disappointment for investors” will be around January quarter guidance that was “well below street expectations,” the analyst says. While Evercore thinks investors will place Cisco in the “show me” box for a few quarters, it also thinks for value investors that can be patient the upside is that Cisco can do $4.50-$5.00 EPS post Splunk integration and that the “stock can work to the mid 70s, though patience is needed.”