Positive Tone Expected from CSCO’s Annual Investor Day Meeting
Analysts at Credit Suisse maintain their “outperform” rating on Cisco Systems Inc (NASDAQ: CSCO). The target price for CSCO is set to $28.
According to Credit Suisse, CSCO’s CEO John Chambers is expected to strike a confident tone regarding the company’s current business trends and the ongoing recovery during the annual investor day on December 8. Cisco Systems will once again reiterate its expectation of 12%-17% long-term growth, the analysts believe.
CSCO’s EPS growth is likely to exceed revenue growth in the long term, given the company’s strong control over operational expenses. The analysts express their concern, however, regarding rising competition from companies like Hewlett-Packard (NYSE: HP), Juniper (NASDAQ: JNPR) and IBM (NYSE: IBM). Cisco Systems is unlikely to update its 1Q10 guidance during the investor day.
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