Cisco Systems "neutral," target price raised

09.11.06 - Robert W. Baird

NEW YORK, November 9 (newratings.com) - Analysts at Robert W Baird maintain their "neutral" rating on Cisco Systems Inc (CSCO). The target price has been raised from $22 to $27.

In a research note published this morning, the analysts mention that the company has reported robust F1Q results, ahead of expectations. Cisco Systems witnessed robust US Enterprise and global Service Provider order growth, the analysts say. The company has announced its revenue guidance for FQ2 at $8.2-$8.3 billion, ahead of the earlier estimate. The EPS estimate for FY07 has been raised from $1.27 to $1.29.