Deutsche Bank Initiates Coverage on Cisco Systems (CSCO) with a Buy; Anticipate Accelerating Growth
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Deutsche Bank initiates coverage on Cisco Systems (Nasdaq: CSCO) with a Buy rating and $26 price target.
Deutsche analyst says, "We anticipate accelerating growth to be driven by customer upgrades as network traffic strains installed products. We also anticipate good uptake for the new initiatives around unified computing and video networking. At the current valuation we believe the company's growth profile merits a Buy rating...In our companion FITT report, we identify several major growth drivers that we expect to spur growth particularly for Cisco's higher-capacity and higher-margin products.
"In the near term we expect weak macro conditions to remain a factor, particularly on the enterprise IT side. This should be offset by continued carrier spending. We also expect good uptake for Cisco's latest new product initiatives especially around its UCS switch fabric and server lines."
To see more analyst ratings on CSCO Click Here.
Cisco Systems, Inc.designs, manufactures and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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