UPDATE: Nomura Reiterates on Cisco Systems on Near-Term Challenges, Limited Downside Risk

In a report published Thursday, Nomura analyst Stuart Jeffrey reiterated a Buy rating on Cisco Systems (NASDAQ: CSCO ), but lowered the price target from $27.50 to $24.50. In the report, Nomura noted, “Cisco reported slightly better-than-expected Q1 EPS of 53c vs consensus of 51c, with strong gross and adjusted