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Cisco Systems, Inc. (NASDAQ:CSCO): According to Lazard Capital, there is a downside risk to Cisco’s October quarter guidance following its channel checks which indicated weak customer buying trends and tight spending. The firm thinks that the improved sentiment in Cisco shares could be precocious, and it reiterates a Neutral rating on the stock.
Symantec Corporation (NASDAQ:SYMC): Jefferies thinks that the risk/reward for Symantec shares remain favorable, and it increased its price target for the shares to $21 from $18. The firm maintains a Buy rating on the stock.
Apple Inc. (NASDAQ:AAPL): Bernstein states that there is concern regarding whether Apple will have the ability to obtain enough in-cell displays for the iPhone 5, but the firm predicts that the device will raise Apple’s gross margins during Q4 even if the company is forced to pay more in order to get the screens and add display capacity. The firm keeps an Outperform rating and a $750 price target on the stock.
Estee Lauder Companies Inc.’s (NYSE:EL): JPMorgan believes Estee Lauder’s guidance for Q1 and FY13 will miss consensus expectations because of strong competition as well as macroeconomic slowdowns. The firm maintains a Neutral rating on the stock before the company’s Q4 results.
NetApp, Inc. (NASDAQ:NTAP): JPMorgan still approves of the NetApp story but recommends that investors should not put new money to work in the name before NetApp’s August 15 results. The firm believes that NetApp’s July quarter will beat expectations, but predicts that the company’s October quarter outlook could be disappointing. JPMorgan maintains an Overweight rating on the stock.
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