Cisco Systems, Inc. (CSCO) Estimates And Price Target Raised
February 05, 2010 9:03 AM
Credit Suisse (ADR) (NYSE: CS) has raised the estimates and price target for Cisco Systems, Inc. (NASDAQ: CSCO) in its tech daily report released yesterday. The estimates have been raised after the company reported a strong second-quarter.
Cisco reported EPS of $0.40 on revenue of $9.82 billion for the second-quarter. This was ahead of Credit Suisse’s EPS estimate of $0.35 on revenue of $9.40 billion.
The company also issued guidance for the third quarter. The company expects revenue to grow by 23%-26% in the third quarter. According to Credit Suisse, the strong quarter and outlook point to a further recovery in business conditions, and the company’s earnings power.
Credit Suisse has raised the price target for the company from $28 to $32. The EPS estimate for FY11 has been raised to $1.55. Credit Suisse has maintained an Outperform rating for Cisco Systems, Inc.
