Cisco Systems "outperform," target price reduced

29.01.08 - Robert W. Baird

NEW YORK, January 29 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on Cisco Systems Inc (CSCO). The target price has been reduced from $38 to $34.

In a research note published this morning, the analysts mention that the company has launched Nexus 7000, its new data center switch. Although initially revenues from Nexus might ramp slowly, eventually the product is likely to contribute significantly to Cisco Systems? top-line going forward, the analysts say.