Cisco: Barclays downgrades its board, target reduced

( – Barclays downgraded its advice on Cisco on Wednesday, reduced from ‘overweight’ to ‘weight in line’ with a price target lowered from 56 to 46 dollars.

In a sector note, the broker is less optimistic about the activities of the network specialist relating to the ‘cloud’ and software, while worrying about the impact on the group of a slowdown in the economy and the sector in general.

Barclays also says it expects faster growth from software rivals Cisco, a lag that he says illustrates the lack of attractiveness of the US equipment maker’s offerings.

“We also consider that Cisco is more vulnerable to the risks surrounding economic conditions and the health of companies,” adds the broker, who points out that his work highlights a desire by companies to reduce their expenses.

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