Cisco Systems "outperform"

21.12.07 - Robert W. Baird

NEW YORK, December 21 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on Cisco Systems Inc (CSCO). The target price is set to $38.

In a research note published this morning, the analysts mention that the company?s Chief Development Officer Charlie Giancarlo has resigned. The departure of Giancarlo seems to leave Cisco Systems with no apparent successor to CEO John Chambers, the analysts say. The company has no plans to fill the vacant position, Robert W Baird adds. The analysts believe that Cisco Systems remains well positioned to gain from favourable macro trends.