Cisco Systems "hold," target price raised

08.08.07 - Stifel Nicolaus

NEW YORK, August 8 (newratings.com) - Analyst Sanjiv Wadhwani of Stifel Nicolaus & Company maintains his "hold" rating on Cisco Systems Inc (CSCO), while raising his estimates for the company. The target price has been raised from $53 to $55.

In a research note published this morning, the analyst mentions that the company has reported robust 4Q results, with revenues and EPS ahead of the estimates. Cisco Systems has raised its long-term growth guidance from 10%-15% to 12%-17%. According to Stifel Nicolaus & Company, the company?s incremental growth is being boosted by unified communications, upgrades to switching infrastructures and Scientific Atlanta, routing. The EPS estimate for FY07 has been raised from $1.53 to $1.55.