Oppenheimer Maintains Outperform Rating On Cisco Systems

According to Oppenheimer, Cisco Systems

held an investor day. Oppenheimer said that Cisco provided a prudent long-term forecast for growth and margins, which we feel provides a proper baseline with room for upside. "We believe Cisco has reset expectations to an appropriate level given negative secular trends, and we are encouraged by the company's renewed focus and accountability. Overall, we feel Cisco offers relative safety in the current rough seas with room for upside. Maintain Outperform." Cisco Systems closed yesterday at $16.35.