Company Update (NASDAQ:CSCO): Arista: Don’t Fear Cisco Lawsuit, Says Oppenheimer

[at Barrons.com] – Shares of Arista Networks (ANET) are down 75 cents, or 0.9%, at $77.09, despite a bullish note from Oppenheimer & Co.’s Ittai Kidron, who raised his rating on the shares to Outperform from “Perform,” and set a $90 price target, writing that he has learned to stop worrying about the lawsuit brought by Cisco Systems (CSCO). “Following detailed work and discussion with experts, we’re convinced that, while Cisco will likely win in some of its patent claims, it will not disrupt Arista’s business.” Kidron has brief remarks on the new perspective he’s gained on the patent-infringement suit against Arista: Our work with legal experts suggests Cisco could win some of its infringement claims in the ITC investigations. Read more on this. Cisco Systems, Inc. (CSCO) , with a current market cap of $134.06B, opened at $26.39. Looking at today’s market, CSCO one day range is $25.88 to $26.42 with its 52-week range being $23.03 to $30.31. CSCO shares are currently priced at 11.96x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 12.01x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $0.84 per share annually in dividends, yielding 3.09%. According to a consensus of 35 analysts, the earnings estimate of $0.54 per share would be $0.01 better than the year-ago quarter and a $0.02 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $2.27 would be a $0.06 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $11.78 Billion. If realized, that would be a 1.34% decrease over the year-ago quarter. Recently, Drexel Hamilton Initiated CSCO at Buy (Oct 9, 2015). Previously, Citigroup Initiated CSCO at to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $30.63, which is 16.07% above where the stock opened this morning. See more in (NASDAQ:CSCO) Similar Articles: Company Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Systems (CSCO) Stock Rises After Winning U.S. Patent Dispute Stock Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco CEO Robbins Dishes on Arista, Trumpets ‘Solid, Positive Growth’ Outlook Stock Update: Cisco Systems Inc (NASDAQ:CSCO) – Stop the presses: Cisco says Cisco CEO is in charge of Cisco