Cisco Systems "outperform," target price raised

10.11.06 - Miller Johnson Steichen Kin.

NEW YORK, November 10 (newratings.com) - Analyst Sanjiv Wadhwani of Miller Johnson Steichen Kinnard maintains his "outperform" rating on Cisco Systems Inc (CSCO), while raising his estimates for the company. The target price has been raised from $26 to $30.

In a research note published yesterday, the analyst mentions that the company has reported robust results for the October quarter, broadly ahead of expectations. Cisco Systems? order growth during the quarter was healthy and balanced across the company?s various segments, the analyst says. The EPS estimate for 2007 has been raised from $1.25 to $1.29.