Cisco Systems "sell"

11.08.06 - Jyske Bank

NEW YORK, August 11 (newratings.com) - Analyst Robert Jakobsen of Jyske Bank reiterates his "sell" rating on Cisco Systems Inc (CSCO). The 12-month target price is set to $21.

In a research note published yesterday, the analyst mentions that Cisco Systems? share price has appreciated by 9% after the company projected 10%-15% y/y organic sales growth for the 2006/2007 accounting year. The analyst believes that Cisco Systems would not be able to meet an organic growth target of 15%. Jyske Bank expects long-term investor concerns over the company?s growth potential to resurface going forward.