Piper Sandler Reiterates Neutral Rating on Cisco (CSCO)

Piper Sandler analyst James Fish reiterated a Neutral rating and $52.00 price target on Cisco (NASDAQ: CSCO).

The analyst commented, "Cisco hosted its annual Live user conference and hosted an analyst day in conjunction with this event that walked through the various segments' focus items and developments, new products, Splunk integration, and the updated financial targets. The most incremental takes from the day were: 1) the financial targets, especially when including Splunk, are more credible than the 2021 analyst day and appear achievable / inline with our current expectations; 2) Cisco has historically been segmented but the various segments are finding better synergies now, especially with Splunk; 3) customer feedback has been strong to let Splunk succeed within Cisco vs. focusing on cost synergies immediately; 4) Ethernet is coming more in AI, but Cisco is showing design wins (including with Azure). While we would have liked to see more metrics on the software transition, we were slightly encouraged for Cisco's prospects throughout the day."

For an analyst ratings summary and ratings history on Cisco click here. For more ratings news on Cisco click here.

Shares of Cisco closed at $47.42 yesterday.

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