CIBR - Cisco Secures Splunk - A Game Changer For Growth And Free Cash Flow Says Analyst | Benzinga
Piper Sandler analyst James Fish reiterated Cisco Systems Inc (NASDAQ:CSCO) with a Neutral and raised the price target from $47 to $51.
On March 14, Cisco won the EU clearance for its pending Splunk deal, resulting in Cisco closing on Splunk on March 18, long ahead of the initial close date and giving Cisco approximately half a quarter of its contribution in the fiscal third quarter.
Cisco raised $13.5 billion of debt at a 5% average cost of debt at the end of February to finance the transaction.
Fish’s “Base” Case that is now included in his estimates given the deal closure results in Splunk achieving over $5 billion of revenue by fiscal 2026, Splunk (with synergies) having 38% operating margin in fiscal 2026. The analyst projects ...