J.P. Morgan: Diversification Provides Some Insurance for Cisco Systems FQ2'12

In a research report published earlier today, J.P. Morgan explained that Cisco Systems, Inc.'s (NASDAQ: CSCO) enterprise spending appears to be holding up better than expected.

J.P. Morgan commented in the report, “We expect Cisco to be supported by a reinvigorated sales force and focus on execution with product refreshes in multiple areas leading to potential share gains. We also see a possibility for margin improvement given ongoing cost reduction efforts.”

J.P. Morgan reiterates its Overweight rating and $21 PT on Cisco Systems, which closed Friday at $20.09.