Cisco Systems "buy," target price raised

11.05.06 - Deutsche Securities

NEW YORK, May 11 (newratings.com) - Analyst Cobb Sadler of Deutsche Bank Securities reiterates his "buy" rating on Cisco Systems Inc (CSCO), while raising his estimates for the company. The target price has been raised from $22.50 to $24.00.

In a research note published yesterday, the analyst mentions that the company has posted robust F3Q06 results. The revenue estimates for FY06 and FY07 have been raised from $28.303 billion to $28.45 billion and from $31.558 billion to $31.693 billion, respectively. The pro-forma EPS estimate for FY07 has been raised from $1.13 to $1.16.