Oppenheimer Sets Expectations On Cisco Ahead Of FY1Q14 Results

In a research report released today, Oppenheimer analyst Ittai Kidron maintained an Outperform rating on Cisco (NASDAQ:CSCO) with a $27 price target, which represents a potential upside of 10% from where the stock is currently trading.

Kidron wrote, “Based on our US/European channel checks (30 interviews), we expect Cisco to report in-line to slightly better Oct.-quarter results and issue guidance that’s at least in line with consensus. Our checks were strong in North America pointing to broad-based enterprise demand, strong federal trends and healthy switching/security demand. Offsetting were mixed trends in Europe, though not to worrisome levels, and still mixed emerging markets and service provider spending, and FX headwinds. These factors have been consistently highlighted in results from the supply-chain and competitors. Overall, we expect management to be cautiously optimistic, yet still highlight the aforementioned headwinds. That said, with most negatives in guidance and careful OpEx controls, we’re incrementally positive on the shares.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ittai Kidron has a total average return of 10.2% and a 64.9% success rate. Kidron has a 8.8% average return when recommending CSCO, and is ranked #303 out of 3358 analysts.

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