Oppenheimer Highlights Takeaways From Cisco’s Investor Event

In a research note issued today, Oppenheimer analyst Ittai Kidron maintained an Outperform rating on Cisco (NASDAQ:CSCO) with a $27 price target, following an investor event with Cisco’s CEO John Chambers.

Kidron said, “Last week we hosted an investor event with Cisco’s CEO John Chambers. Our most interesting impression was Cisco’s very high level of conviction in its competitive position and ability to exert increasing pressure in the market. Other key takeaways from the event are: (1) emerging markets remain in flux, but generally this is taken into account in outlook; (2) win rates in SDN are extremely high and competitive pressures are likely to be stepped up; (3) long-term margins are expected to remain stable; (4) Cisco’s M&A strategy is unchanged, no large deals or a full-fledged entry into storage are expected; and (5) succession will likely come from the current management roster.”

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 64.0% success rate. Kidron has a 9.7% average return when recommending CSCO, and is ranked #250 out of 3314 analysts.

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