Auriga Maintains a 'Buy' on Cisco (CSCO); Expected to Benefit from Improving Product Cycles and Stronger Enterprise/Public Sector

Auriga maintains a 'Buy' on Cisco (NASDAQ: CSCO) price target raised $2 to $24.

Auriga analyst said, "In our view, CSCO's top- and bottom-line growth targets are looking increasingly conservative; we now expect the company to grow earnings at 10% CAGR over the next five years. For FY12/FY13, we raise our estimates as we expect CSCO to gain market share in multiple segments like switches, routers, set-top boxes and servers."

"In our view, the recent re-organization has reinvigorated the sales force and streamlined decision making to create a much more efficient and nimble company. We expect CSCO to successfully transition its product/services portfolio to support software defined networks and public/private clouds, thereby ensuring sustainable long-term growth potential."

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 $19.83 yesterday.

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