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Morgan Stanley Reiterates Overweight Rating, $22 PT on Cisco Systems

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In a report published Monday, Morgan Stanley reiterated its Overweight rating and $22.00 price target on Cisco Systems (NASDAQ: CSCO).

Morgan Stanley noted, “CEO Chambers was confident and upbeat at Cisco's NYC analyst day, and focused on how services and software help keep GM stable, while a tight grip on opex takes op margin to the ‘high 20s,' vs. current guidance of ”mid-20s,” matching our est. Stable rev, a 3%+ div yld, and reasonable val keep us OW.”

Cisco Systems closed on Friday at $19.34.

Posted-In: Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

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