BUZZ-Cisco down; HSBC downgrades to 'hold' and cuts PT - CSCO News | RalliesBUZZ-Cisco down; HSBC downgrades to 'hold' and cuts PT
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CSCO• HSBC cuts Cisco to hold and lowers price target
- Cisco's shares fall 2.5% to $110.66.
- Brokerage HSBC downgrades the networking equipment maker CSCO.O to "hold" from "buy" and lowers PT to $120 from $137.
- Cisco's earnings growth is likely to slow after Q1 FY27, limiting room for further earnings upgrades - brokerage.
- HSBC expects the company's networking revenue to rise 24.2% in FY27, helped by strong demand from large cloud-computing customers.
- Cisco on Wednesday forecast fiscal 2027 revenue above Wall Street expectations.
- 17 of 27 brokerages rate the stock "buy" or higher, and 10 "hold"; median PT is $133.50 - data compiled by LSEG.
- Stock has risen 47% this year, through close on Thursday.
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