Cisco Systems upgraded to "outperform"

20.10.08 - Morgan Keegan

NEW YORK, October 20 (newratings.com) - Analysts at Morgan Keegan upgrade Cisco Systems Inc (CSCO) from "market perform" to "outperform," while reducing their estimates for the company.

In a research note published this morning, the analysts mention that the company has net cash of $3.29 per share, with the ability to invest in the downturn. The outlook for the growth rates at Cisco Systems? Switches and "Other" divisions is now increasingly conservative, the analysts say. The EPS estimates for FY09 and FY10 have been reduced from $1.70 to $1.59 and from $1.92 to $1.79, respectively.