Cisco Systems initiated with "hold"

22.03.07 - Stifel Nicolaus

NEW YORK, March 22 (newratings.com) - Analyst Sanjiv Wadhwani of Stifel Nicolaus & Company initiates coverage of Cisco Systems Inc (CSCO) with a "hold" rating.

In a research note published this morning, the analyst mentions that the company would face tougher y/y comps going ahead. Cisco Systems? growth rates are likely to have peaked in the January quarter for the forthcoming 12-18 months, the analyst says. Upward revisions in the estimates for the company are unlikely going forward, Stifel Nicolaus & Company adds. These factors are expected to result in Cisco Systems? stock being range bound over the forthcoming 12 months, despite impressive execution, according to the analyst.