Citigroup analyst Kevin Dennean maintained his buy rating on the stock, and called the selloff overdone. He argued that Chambers downbeat tone and the plan to cut jobs obviously speaks to caution regarding overall macro conditions, but we believe weaker emerging markets will be more than offset
Date: Aug 15, 2013
Category: Business
Source: Google
European Stocks Are Little Changed as HSBC Tumbles
Alcatel-Lucent increased 2.9 percent to 1.91 pence.Citigroup analyst Kevin Dennean raised his price target on thetelecommunications equipment and services provider to 2 eurosfrom 1.45 euros, citing strong second-quarter results.
Kevin Dennean of Citigroup noted that Ciscos results and guidance are not at the same levels as the blow your doors off results the company was delivering in years past, but solid is good enough in our book given undemanding valuation. He rates the stock as a buy.
9%)was up 3% and Juniper /quotes/comstock/13*!jnpr/quotes/nls/jnpr(JNPR41.76,+1.00,+2.45%)was up 2.4%. In a note to clients, Citigroup analyst Kevin Dennean said Ciena will benefit from the rollout and remains a top pick in the group for the current network upgrading cycle.