Tech ratings changes: Cisco, MercadoLibre, Xerox, Cavium, Xoom
Jan. 27, 2014 9:45 AM ETCisco Systems, Inc. (CSCO) StockCSCO, SMI-OLD, MRVL, XRX, IDTI, NTDOY, MELI, XOOM, SALEBy: Eric Jhonsa, SA News Editor
- Cisco (CSCO -0.9%) has been cut to Underweight by JPMorgan ahead of its Feb. 12 FQ2 report.
- MercadoLibre (MELI -1.7%) has been cut to Underperform by BofA/Merrill. Shares tumbled last week, partly on account of Venezuelan/Argentine forex swings.
- Xerox (XRX -1.5%) has been cut to Market Perform by BMO after missing Q4 revenue estimates on Friday.
- Cavium (CAVM +1.6%) has been upgraded to Outperform by Wedbush ahead of Wednesday's Q4 report.
- Xoom (XOOM +8%) has been upgraded all the way to Strong Buy from Market Perform by Raymond James. Q4 results are due on Feb. 4.
- RetailMeNot (SALE +3.2%) has been upgraded to Buy by Goldman. Q4 results arrive on Feb. 6.
- SMI (SMI +9.4%) has received a two-notch upgrade to Buy by UBS.
- IDT (IDTI -4.1%) has been cut to Underweight by Barclays.
- Nintendo (OTCPK:NTDOY) has been cut to Sell by Goldman. Shares fell 2.2% in Tokyo.