Davenport Upgrades Cisco Systems (CSCO) to Buy; Raises FY10 Estimates
CSCO Hot Sheet
Rating Summary:25 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 9 | New: 26
Davenport upgrades Cisco Systems (NASDAQ: CSCO) to Buy, price target $28.
Davenport analyst says, "We have increased confidence that Cisco’s business will continue to improve over the next eighteen months, with potential revenue growth of 9% year-over-year in fiscal 2011. We consider Cisco Systems attractively valued, with a free cash flow yield of 7.7% (based on actual 2009 free cash flow)...We estimate Q-2 10 operating EPS, excluding amortization and stock option expense, of $0.33 (based on the mid-range of Cisco’s guidance), a penny above the consensus estimate. We raised our fiscal 2010 GAAP EPS estimate from $1.04 to $1.16 and established a fiscal 2011 estimate of $1.28. We raised our fiscal 2010 revenue estimate from $35.8 to $37.39 billion (compared to the consensus estimate of $36.47 billion) and established a fiscal 2011 estimate of $40.8 billion, (9%+ year-over-year growth), compared to the consensus estimate of $40 billion."
To see more analyst ratings on CSCO Click Here.
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP)-based networking and other products to the communications and IT industry worldwide.
Davenport analyst says, "We have increased confidence that Cisco’s business will continue to improve over the next eighteen months, with potential revenue growth of 9% year-over-year in fiscal 2011. We consider Cisco Systems attractively valued, with a free cash flow yield of 7.7% (based on actual 2009 free cash flow)...We estimate Q-2 10 operating EPS, excluding amortization and stock option expense, of $0.33 (based on the mid-range of Cisco’s guidance), a penny above the consensus estimate. We raised our fiscal 2010 GAAP EPS estimate from $1.04 to $1.16 and established a fiscal 2011 estimate of $1.28. We raised our fiscal 2010 revenue estimate from $35.8 to $37.39 billion (compared to the consensus estimate of $36.47 billion) and established a fiscal 2011 estimate of $40.8 billion, (9%+ year-over-year growth), compared to the consensus estimate of $40 billion."
To see more analyst ratings on CSCO Click Here.
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP)-based networking and other products to the communications and IT industry worldwide.
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