Cisco (CSCO) Price Target Raised at Goldman, Sees Q4 Beat

August 12, 2013 11:37 AM EDT Send to a Friend
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Price: $24.47 +1.62%

Rating Summary:
    31 Buy, 19 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 29 | Down: 45 | New: 4
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Goldman Sachs today maintained a Conviction Buy on Cisco (NASDAQ: CSCO) and raised its price target to $30.00 (from $28.00). Financial results will be released after the close of the market on Wednesday, August 14, 2013, and analyst Simona Jankowski expects a strong FQ4 and guidance.

"We expect Cisco to report a solid F4Q quarter on improving enterprise networking demand, higher carrier capex, and strong execution, with EPS upside aided by better gross margins," said Jankowski.

"Expect upside to guidance, with our yoy revenue growth estimate of 6.9% above consensus at 4.8% on accelerating cyclical and product cycle-driven growth in Ethernet switching, secular strength in WiFi, and continued share gains in servers," added the analyst.

For an analyst ratings summary and ratings history on Cisco (NASDAQ: CSCO) click here. For more ratings news on Cisco click here.

Shares of Cisco closed at $26.05 yesterday.


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