Cisco Systems "outperform," target price raised - update

08.08.07 - RBC Capital Markets

NEW YORK, August 8 (newratings.com) - Analysts at RBC Capital Markets 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 $35.

In a research note published this morning, the analysts mention that the company has posted robust results for the latest quarter, with revenues and EPS ahead of expectations. Growth at Cisco Systems appears to be sustainable and might accelerate going forward, the analysts say. The operating EPS estimate for 2008 has been raised from $1.54 to $1.56.