Cisco on Deck: Don't Expect Any Miracles
Topeka Capital Markets' White, however, has a buy rating on the tech giant. "Cisco is trading at just 5.8x (excash) our CY13 EPS estimate, sports a 3.3% dividend yield and trades below the 2009 trough downturn price-to-tangible book value, providing some downside support," he wrote, in a recent note.
Cisco shares, which are off 7.35% this year, were down 0.59% to $16.75 shortly after midday on Tuesday.
--Written by James Rogers in New York.
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