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Add as a preferred source on GoogleThe bank changed its rating Nov. 5, seven days before Cisco's scheduled Nov. 12 report; shares were 2.9% lower in premarket trading that day.
On Nov. 5, Morgan Stanley set Cisco at Equal-Weight, replacing its earlier Overweight rating. The bank said concerns were building as Cisco approached its scheduled Nov. 12 earnings release.
Before the Nov. 5 opening bell, Cisco shares were 2.9% lower in premarket trading. The earnings release is scheduled for Nov. 12.
The outlet attributed 28% net-profit growth and 24% revenue growth across 1,061 companies to Morgan Stanley.
The bank forecasts $1.06 billion in revenue and $7.25 per share for 2029, below Camtek's targets of $1.2 billion and $7.80.
The bank shifted its rating from Equal-weight. Coinbase reported $1.2 billion in third-quarter net revenue, compared with $1.8 billion a year earlier.
