Cisco Systems "buy," target price raised

06.08.09 - Lazard Capital Markets

NEW YORK, August 6 (newratings.com) - Analysts at Lazard Capital maintain their "buy" rating on Cisco Systems Inc (CSCO). The target price has been raised from $24 to $26.

In a research note published this morning, the analysts mention that the company has reported robust quarterly results, with both revenues and earnings ahead of the estimates. Cisco?s robust results were driven by sequential improvement across various product lines and geographies, and improved gross margins, the analysts add. The company reported sequential growth in its orders in the July quarter and pointed to improved business conditions. Cisco Systems is poised to do perform better than the market expectations going forward, Lazard Capital says.