Cisco Systems "outperform," estimates raised

28.02.06 - Robert W. Baird

NEW YORK, February 28 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on Cisco Systems Inc (CSCO), while raising their estimates for the company. The target price is set to $23.

In a research note published this morning, the analysts mention that the company has completed its acquisition of Scientific-Atlanta (SFA). The acquisition is expected to be neutral to Cisco Systems? 2006 EPS and accretive to the company?s 2007 EPS by $0.02, the analysts say. Revenue growth and improving fundamentals lend near-term upside to Cisco Systems? share price, Robert W Baird adds. The EPS estimate for 2007 has been raised from $1.20 to $1.22.