Cisco Systems "neutral," target price raised

07.05.08 - Robert W. Baird

NEW YORK, May 7 (newratings.com) - Analysts at Robert W Baird maintain their "neutral" rating on Cisco Systems Inc (CSCO), while raising their estimates for the company. The target price has been raised from $23 to $27.

In a research note published this morning, the analysts mention that the company has posted its F3Q revenues marginally ahead of expectations on account of its robust expense controls. Despite the overall difficult environment, Cisco Systems appears to be executing well, the analysts say. The EPS estimates for 2008 and 2009 have been raised from $1.49 to $1.52 and from $1.67 to $1.68, respectively.