Cisco Systems, Inc. (CSCO) Maintains Buy Rating

Analysts at Broadpoint AmTech have maintained their Buy rating for Cisco Systems, Inc. (NASDAQ: CSCO). The company reported EPS of $0.40 for the second-quarter, a 26% year-over-year increase. The consensus EPS forecast was $0.35.

The company posted sales of $9.8 billion, which was ahead of consensus estimate of $9.4 billion. The company had an operating margin of 30.3% in the quarter. The company reported a decline in cash to $24.4 billion.

According to analysts, Cisco Systems, Inc. is entering the recovery phase with an improved product position. Analysts have a price target of $29 for the company. Analysts expect Cisco’s multiple to expand as year-over-year growth continues.