Market Overview

UPDATE: BMO Capital Markets Reiterates Cisco Systems at Outperform on Impressive FQ1

Related CSCO
Court Vacates VirnetX Holding Corporation Patent Victory Against Apple Inc., Shares Plummet 50%
UPDATE: Shares of Cisco Edge Lower Following 10-K; Could Be Related to Comment 'Investigation Into Allegations...Regarding Possible Violations of US Foreign Corrupt Practices Act,' Regarding Russia
Is Your Portfolio Ready for the IOT Boom? (Fox Business)

In a report published Tuesday, BMO Capital markets reiterated its Outperform rating on Cisco Systems Inc. (NASDAQ: CSCO) following impressive FQ1 results that beat consensus estimates, and maintained a price target of $22.

BMO Capital Markets noted, "CSCO defied expectations and delivered a solid quarter and marginally better guidance. We could nitpick on the gross margin outlook and CSCO is clearly not out of the macro woods yet, but the execution in the quarter was impressive and the comments on US enterprise spending should lift the entire networking group. We continue to view shares of CSCO as undervalued and look for the strong showing to help narrow the valuation gap. We rate Cisco shares at Outperform and are maintaining our price target of $22, which represents 10x our CY13 FCF estimate of $2.16."

Cisco Systems closed at $16.85 on Tuesday.

Latest Ratings for CSCO

DateFirmActionFromTo
Aug 2014BarclaysMaintainsEqual-weight
Aug 2014Stifel NicolausMaintainsBuy
Aug 2014UBSMaintainsBuy

View More Analyst Ratings for CSCO
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Reiteration Analyst Ratings

 

Related Articles (CSCO)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters