Citi upgrades Qualcomm, downgrades BlackBerry, starts Cisco at Sell

Following the close, Citi has upgraded Qualcomm (QCOM) to Buy, downgraded BlackBerry (BBRY) to Sell, and (as part of a sector launch for networking equipment names) started coverage on Cisco (CSCO) and Brocade (BRCD) at Sell.

QCOM +0.4% AH. BBRY -1.3% after rallying 3.8% in volatile regular-session trading. CSCO -0.6%. BRCD -0.8%.

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Comments (13)
  • Saterley
    , contributor
    Comments (109) | Send Message
    Am I nuts or didn't Citi downgrade Qcom just two months ago at 67? Wonder how much money these guys make?
    10 Dec 2013, 05:03 PM Reply Like
  • gwynfryn
    , contributor
    Comments (6458) | Send Message
    You mean by going against the "advice" they give out? Lots!
    11 Dec 2013, 09:46 AM Reply Like
  • Crispin_in_Waterloo
    , contributor
    Comments (1648) | Send Message
    Yeah, I was wondering what the basis of this downgrade was. Indigestion? There is nothing in the news that changes anything and probably won't be until the next Q report. The key remains the number of shorted shares and the available pool. It is at present not trading on value, it is trading on sentiment and fear-mongering. No problem...


    Every time someone buys a new car or sends a secure message they will be buying a little bit of BBRY. That's OK with me.


    If Citi wants to look closely at something, check Twitter.
    10 Dec 2013, 05:11 PM Reply Like
  • ATInsider
    , contributor
    Comments (424) | Send Message
    Fully agree.
    Citi has no basis for its "sell" recommendation.
    10 Dec 2013, 08:39 PM Reply Like
  • ystock15
    , contributor
    Comments (165) | Send Message
    Starts Cisco at Sell LOL


    God, I am glad I didn't get into Cisco. I felt something just not right
    10 Dec 2013, 05:17 PM Reply Like
  • john001
    , contributor
    Comments (1190) | Send Message
    BB goes up 3.4% following the downgrade. Speaks volumes about Citi.
    10 Dec 2013, 05:35 PM Reply Like
  • stevef1086
    , contributor
    Comments (52) | Send Message
    Amazing how manipulated this f'in market is....
    10 Dec 2013, 05:55 PM Reply Like
  • getshorty
    , contributor
    Comments (563) | Send Message
    Citi starts CSCO at a sell after it has fallen over 20% from its highs for the year. Way to get out in front of things, Citi. A sell in July would have been a bold (and useful) call. i think a freshman business major could have made this one. Pathetic.
    10 Dec 2013, 06:11 PM Reply Like
  • nelsonsdad
    , contributor
    Comments (25) | Send Message
    A sell call on Cisco is useless at this point. You can only sell it if you own it (or if you wish to really take a risk, sell short.) If you own it now, why sell low? With the strong financials and dividend, which is likely to increase, and a fast moving internet landscape which is impossible to predict, how can one bet against the strongest networking company in the world?


    A bet against Cisco is a broad bet against the future of the internet, and the future. Hard to make money on that basis.
    10 Dec 2013, 08:06 PM Reply Like
  • chintan1671
    , contributor
    Comments (79) | Send Message
    Citi wants to buy a bulk load of CSCO before they upgrade the shares
    11 Dec 2013, 07:15 AM Reply Like
  • Spectator88
    , contributor
    Comments (6) | Send Message
    I'm downgrading Citi to Sell.
    10 Dec 2013, 10:06 PM Reply Like
  • gwynfryn
    , contributor
    Comments (6458) | Send Message
    Down from "ignore"?
    11 Dec 2013, 09:47 AM Reply Like
  • rad1130
    , contributor
    Comments (3) | Send Message
    Monday morning quarter backs do very well.
    11 Dec 2013, 09:25 PM Reply Like
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