“We believe it’s too early for investors to commit to the stock as we’re still in the very early innings of a potential turnaround,” they wrote in a note.
“While the organization has a tremendous franchise and the stock looks cheap, it’s very early days in the company’s restructuring efforts. Cisco hasn’t yet addressed a myriad of issues in the business,” Jefferies said. “Also, we expect that there’s significant inertia – these types of turnarounds can take a very long time.”
PowerShares QQQ
