Oppenheimer Expects Cisco (CSCO) to Guide Down

Based on US/European channel checks (25 interviews), Oppeheimer analyst, Ittai Kidron, expects Cisco's (NASDAQ: CSCO) April quarter results are expected to come in in line with consensus and see potential for slight upside taking into account conservative guidance and an extra week of activity in the quarter. However, he is cautious on the July-quarter outlook.

Acknowledging NT challenges, the analyst is positive long term given Cisco's business model shift to subscription-based solutions.

April quarter survey results came in-line with consensus with possible slight upside. Survey contacts indicated 40% pointing to QoQ revenue growth vs. 20% to a decline.

No change to Outperform rating or $30 PT.

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 $27.49 yesterday.

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