Cisco Systems "outperform," target price raised

17.10.06 - RBC Capital Markets

NEW YORK, October 17 (newratings.com) - Analyst Mark Sue of RBC Capital Markets maintains his "outperform" rating on Cisco Systems Inc (CSCO), while raising his estimates for the company. The target price has been raised from $24 to $28.

In a research note published yesterday, the analyst mentions that the upward revision in the estimates for the company reflects accelerating router growth and improving trends in the emerging markets. Channel checks indicate data traffic growth, led by video applications, the analyst says. The EPS estimate for 2007 has been raised from $1.22 to $1.28.