Cisco Systems downgraded to "neutral weight" - update

16.01.07 - Prudential Financial

NEW YORK, January 16 (newratings.com) - Analyst Inder M Singh of Prudential Financial downgrades Cisco Systems Inc (CSCO) from "overweight" to "neutral weight." The target price is set to $26.

In a research note published this morning, the analyst mentions that the Cisco Systems' share price has appreciated recently due to the re-acceleration of the company's sales. Cisco Systems? share price is expected to be range-bound during most of 2007, the analyst says. The growth in the company?s core markets is unlikely to accelerate significantly going forward, Prudential Financial adds.