Cisco Systems "buy," target price raised

30.03.06 - Banc of America

NEW YORK, March 30 (newratings.com) - Analyst Tim Long of Banc of America Securities reiterates his "buy" rating on Cisco Systems Inc (CSCO). The target price has been raised from $22 to $25.

In a research note published this morning, the analyst mentions that the visibility into the company's earnings is improving. Cisco Systems has significant revenue opportunities on account of its association with Scientific Atlanta and increased routing/switch spending, the analyst says. The company is poised to benefit from the growing IPTV market, Banc of America Securities adds.