Wedbush Upgrades Cisco Systems (CSCO) to Outperform; New Market Opportunities
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Wedbush upgrades Cisco Systems (Nasdaq: CSCO) to Outperform. Price target increased from $25 to $28.
Wedbush analyst says, "We believe recent moves by Cisco can drive more rapid long term growth and are upgrading to OUTPERFORM from Neutral, raising our 3-5 year net income growth forecast to 17% from 14% and increasing our target to $28..ISR upgrade opportunity...Pending acquisitions will help cement (Tandberg/video) and extend (Starent/mobile networks) new market opportunities...Reversal of market share erosion...Our F2011 EPS estimate of $1.52 and the company's average multiple of trailing earnings for the past 7 years (22.3x) applied to our F2010 estimate of $1.30."
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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