Wunderlich Securities Sees Solid Finish To F4Q14 For Cisco Systems

In a report published Thursday, Wunderlich Securities analyst Matthew S. Robison reiterated a Hold rating and $24.00 price target on

. In the report, Wunderlich Securities noted, “Cisco (CSCO) reported F4Q14 moderately above expectations with good execution despite wide-ranging demand conditions across regions, markets, and product lines (see Figure 4 for a summary of order commentary). F2014 brought updates across most product lines, but notably Switching (including the now available Application Centric Infrastructure – the ACI software defined network product line) and Routing (new high-end, forthcoming mid-range and enterprise) segments. We forecast these initiatives accelerate revenue in H215, when more customers move them to production networks. In the meantime, the company must execute through wide ranging regional conditions and obsolescence of older products. Forecast changes are moderate; $24 price target and Hold rating are unchanged.” Cisco Systems closed on Wednesday at $25.20.