Wunderlich Securities Sees Forecast for Cisco Systems as Unchanged Following Financial Analyst Conference

In a report published Friday, Wunderlich Securities analyst Matthew S. Robison reiterated a Buy rating and $25.00 price target on

. In the report, Wunderlich Securities noted, “Yesterday the annual Cisco (CSCO) Financial Analyst Conference (FAC)was held. In our view, the success of the 2009 computing initiative and this year's Insieme spin-in give Cisco high ground for upgrade demand with Software Defined Networking (SDN) and Network Function Virtualization (NFV), despite challenges of general routing and switching market maturation (innovators dilemma) - especially in the realms of security, automated IT resource provisioning (private and public cloud), and mobility. Revised 3-5 year growth targets reflect revenue decline already anticipated for F2014 -- emerging markets weakness and product transitions (expect significant router upgrade cycle next year). Overall our forecast is unchanged, as is our $25 price target and Buy recommendation.” Cisco Systems closed on Thursday at $20.51.