Cisco: Deutsche Bank lowers target
Deutsche Bank’s Brian Modoff has maintained his ‘Buy’ rating on Cisco Systems, although he has cut the price target by a dollar to $21. The results for the fiscal first quarter are expected a week from now on November 13.
The company’s Fortune 500 customers have lowered spend on networks, whereas telecom companies spending has been flat. Also, while routing has shown weakness, the wireless segment has done better.
“We see below seasonal bookings and rollout trends in campus switching, enterprise routing, and video collaboration. 10GE datacenter switching rollouts are slightly below seasonal; while telco edge and core routing upgrades are flattish. UCS, enterprise wireless, and security are seeing above seasonal strength. That said, we see BYOD driving campus switching upgrades, starting early CY13. Similarly, Private Cloud rollouts (VMware vCloud; OpenStack) could drive Nexus 2k/3k/5k/7k and UCS upgrades, while LTE and carrier WiFi help drive ASR 1k/5k/9k and CRS-3 upgrades, heading into CY13,” Modoff said.
Modoff expects Cisco to earn 45 cents non-GAAP EPS on $11.51 billion in revenue. Analysts estimate earnings of 46 cents a share on $11.8 billion revenue. According to the management’s forecast earlier, the revenue would be between $11.49 billion and $11.71 billion. Modoff’s estimate is at the lower end of this band.
Nokia Lumia 920 in Russia
Nokia Corporation (ADR)(NYSE:NOK)’s flagship Windows Phone 8 handset, the Lumia 920 is available in Russia starting today. The handset will support local LTE networks and is priced at 24,990 rubles ($790 or 620 euros).
Has NOK Found The Bottom and Ready To Move Higher? Find Out Here
Some more Windows phones will also arrive soon. For instance, HTC’s Windows Phone 8X will be available next week at 23,990 rubles ($760 or 585 euros). The phone will be available in black as of now, and also in blue later.
Further, HTC’s 88 smartphone will also be unveiled in December. It will be priced at 13,990 rubles ($440 or 345 euros).