Cisco Systems (CSCO): Management Meeting Takeaways - Oppenheimer

Oppenheimer analyst, Ittai Kidron, reiterated his Outperform rating on shares of Cisco (NASDAQ: CSCO) after hosting investor meetings with Cisco's CEO/CFO. The analyst noted 5 key takeaways:

1) a shift in focus toward improving the core business (routing/switching)

2) a broadening of the cloud go-to-market

3) steps to find more success/early progress in the cloud provider networking market

4) improving confidence around hyperconverged

5) solid/growing FCF and possible cash repatriation

The analyst stated "we believe that the steps Cisco is taking to revitalize its core hardware business, including the shift toward a more software-focused, subscription business model, should put it in a stronger position LT. The strong cash position, robust and growing FCF, and aggressive repurchases/
attractive dividend yield keep shares attractive through the model transition".

No change to the price target of $36.

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 $33.37 yesterday.

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