Cantor Fitzgerald Maintains Bullish Views Following Cisco (CSCO) Leadership Change

Cantor Fitzgerald reiterates a Buy rating for Cisco Systems, Inc. (NASDAQ: CSCO) and maintains a $33 price target. This comes after the announcement this morning that Chuck Robbins will succeed John Chambers as CEO, effective July 26, 2015. There has been well documented speculation about a leadership change over the last few years, the firm notes. With John Chambers leaving behind a strong bench of executive talent behind him, Cantor Fitzgerald believes that Cisco will still be able to hit price target.

Cantor Fitzgerald analyst Brian White commented, "We believe John Chambers will leave Cisco in good hands with Chuck Robbins as CEO. Mr. Robbins has served in several management roles since joining Cisco in 1997, and most recently he was Cisco's senior vice president of worldwide operations. We believe another strong candidate for Cisco's CEO role prior to today's announcement was Robert Lloyd (President, Development and Sales). During his time with Cisco, Mr. Robbins was a key force to drive the reinvention of Cisco's sales organization and was also a member of the team that has led Cisco's transformation over the last three years."

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 $29.13 yesterday.

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