Goldman Raises Price Target and Estimates on Cisco (CSCO), Encouraged by Comments and Actions

Goldman Sachs is reaffirming its Buy rating on shares of Cisco (NASDAQ: CSCO) and is raising its price target from $22 to $25 following the release of its second quarter results.

The firm highlights the second quarter marks the third time the company beat expectations and raised guidance since they restructured in the summer of 2011. Goldman notes they are encouraged by managements move to increase its quarterly dividend by 33 percent, hire 400 employees and plans to increase its M&A activity.

Goldman has raised its FY12 and FY13 EPS estimates from $1.84 and $2.04 to $1.89 and $2.09. The firm also lifted its FY14 estimate from $2.16 to $2.23.

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 $20.43 yesterday.

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