Cisco Systems "neutral," target price raised

09.08.06 - Robert W. Baird

NEW YORK, August 9 (newratings.com) - Analysts at Robert W Baird maintain their "neutral" rating on Cisco Systems Inc (CSCO), while raising their estimates for the company. The target price has been raised from $19 to $22.

In a research note published this morning, the analysts mention that the company has reported robust F4Q results due to healthy financial management and product performance. Cisco Systems? operating expenses are continuing to increase, although they are being offset by a low tax rate and share count, the analysts say. The EPS estimate for FY07 has been raised from $1.17 to $1.27.