Cisco Systems "outperform," target price raised

08.08.07 - Robert W. Baird

NEW YORK, August 8 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on Cisco Systems Inc (CSCO), while raising their estimates for the company. The target price has been raised from $32 to $36.

In a research note published this morning, the analysts mention that the company has posted its F4Q revenues and operating EPS ahead of the estimates. Cisco Systems? results were boosted by favourable product mix, robust orders, margin expansion and great balance across geographies, the analysts say. The company has raised its long-term growth guidance from 10%-15% to 12%-17% and issued its revenue guidance for F1Q08 at $9.45-$9.55 billion. The EPS estimate for FY08 has been raised from $1.53 to $1.55.