Cisco (CSCO) Beat Causes Analysts to Ponder IP Networks; Are They Mission Critical?

Yesterday Cisco (Nasdaq: CSCO) reported quarterly earnings that were better than some feared. As a result, shares are higher early on Wednesday, and a number of analysts are commenting on the results.

Analysts at Sterne Agee called Cisco's Q1 "impressive" in light of disappointing earnings miscues from Apple (Nasdaq: AAPL), Google (Nasdaq: GOOG), Microsoft (Nasdaq: MSFT), Intel (Nasdaq: INTC), and Juniper (NYSE: JNPR).

"Our concerns with Europe and China turned out valid, but better than expected resiliency in the U.S. and rest-of-world more than offset driven by fundamental demand," said analyst Shaw Wu.

He thinks the bigger picture takeaway could be that IP networks are more mission critical than widely thought.

Sterne Agee has a Buy rating on Cisco (NASDAQ: CSCO) and a price target of $23.00.

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 $16.85 yesterday.

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