Today’s Research Reports on Stocks to Watch: Cisco Systems and Arista Networks
NEW YORK , NY / ACCESSWIRE / January 24, 2018 / Cisco shares and Arista shares both hit a new high on Tuesday, however, Arista shares closed in the red after an analyst at Deutsch Bank showed concerns of a "resurgent" Cisco and lowered his rating on Arista.
RDI Initiates Coverage on:
Cisco Systems, Inc.
http://www.rdinvesting.com/report/?ticker=CSCO
Arista Networks, Inc.
http://www.rdinvesting.com/report/?ticker=ANET
Cisco Systems, Inc. shares closed up 1.06% yesterday on about 24 million shares traded. The stock hit a new high of $42.13 after an analyst lowered its rating on competing company Arista Networks citing that Cisco is "resurgent and starting to make 'strategic inroads' into major cloud and content providers." According to Santa Clara County property records, it was revealed that on Monday Cisco sold multiple office buildings in north San Jose to a group controlled by realty firm Divco West. Craig Leiker, a first vice president with Kidder remarked, "Cisco has peeled off a lot of buildings in recent years," said Craig Leiker, a first vice president with Kidder Mathews, a commercial realty brokerage. The company has had several property sales and even cut about 710 jobs last year. Shares of Cisco are up 38% in last one year.
Access RDI's Cisco Systems, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=CSCO
Arista Networks, Inc. shares closed down nearly 1% in Tuesday trading on slightly higher trading volume than average. The stock, which is ranked No. 1 in the IBD 50 roster of growth stocks, hit a new high of $276.21 before falling after traders learned that analysts at Deutsche Bank had cut their rating on the stock from "buy" to "hold." According to the firm's analyst Vijay Bhagavath, "There is little room for error at current elevated levels." Bhagavath wrote, "Resurgent Cisco is starting to make 'strategic inroads' into major cloud and content providers. This suggests setup for meaningful competition from Cisco for Cloud customer share of wallet and potential for muted beats and raises from Arista during FY19-20+." While Deutsche Bank had this sentiment on Monday, Morgan Stanley analyst James Faucette was raising his price target from $260 to $310. According to Faucette, the company will be adding more corporate customers. Shares of the stock are up 204% in last one year.
Access RDI's Arista Networks, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=ANET
Our Actionable Research on Cisco Systems, Inc. (NASDAQ: CSCO) and Arista Networks, Inc. (NYSE: ANET) can be downloaded free of charge at Research Driven Investing.
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