FBR Capital Bumps PT on Cisco (CSCO) Ahead of Q1 Print

February 11, 2013 9:23 AM EST Send to a Friend
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Price: $23.78 +0.89%

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FBR Capital raised its price target on Cisco (NASDAQ: CSCO) from $20 to $22 ahead of Q1 results due Wednesday, February 13 after the close, but maintained a Market Perform rating.

"We expect Cisco's January-ending quarter to benefit from several positive trends, including: improving worldwide macroeconomic trends, an increasingly stronger spend by enterprise accounts, a faster pace of new product announcements, and a return to more normal spending patterns by service-provider customers," the analyst said. "We expect that these trends are likely to help Cisco post results that are better than the consensus expectation (F2Q13) and extend the company's momentum into the April quarter (F3Q13) as management continues to work to transform the business into an IT platform vendor, diversifying away from slower-growing routing and switching revenue streams."

For an analyst ratings summary and ratings history on Cisco click here. For more ratings news on Cisco click here.

Shares of Cisco closed at $21.16 yesterday.


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