Cisco Systems "neutral," target price raised

25.08.06 - UBS

LONDON, August 25 (newratings.com) - Analysts at UBS maintain their "neutral" rating on Cisco Systems (CSCO), while raising their estimates for the company. The target price has been raised to $23.

In a research note published this morning, the analysts mention that the company has expressed its optimism regarding its FY07 prospects in view of a robust backlog, continued momentum in the Commercial and Service Provider markets and encouraging feedback from large enterprise customers on their networking spending plans for next year. Cisco Systems expects to continue to focus on consumer and video markets over the coming five years, the analysts say. The EPS estimate for FY07 has been raised from $1.15 to $1.16.