Analysts React To Cisco Q3 2014 Earnings Report

Shares of Cisco Systems CSCO are trading up ~7 percent Thursday following better-than-expected Q3 2014 earnings report on Wednesday.

In reaction to the release, a slew of analysts have weighed in with their opinion on the outlook of the company.

The general opinion appears to be somewhat bullish with a number of firms giving Cisco a Buy rating. A common item noted by the firms was the sequential growth in both the Americas and Europe. Additionally, bulls were pleased with Cisco's improving product orders and better-than-expected product and gross margins.

Related: Cisco Moves Higher On Top And Bottom Line Beats

Pacific Crest analysts (Buy) wrote, "In our view, healthy U.S. commercial trends, the rebound in Europe and the 6 percent y/y growth in enterprise product orders are the first signs of a cyclical recovery."

In a contrasting view, some analysts were not quite as impressed as others.

Wunderlich analysts (Hold) commented, "Though decline was not as severe as we expected, overall variance is not large in percentage terms.

"With moderate forecast revision and largely unchanged EPS estimates, our $24 price target, which reflects our long-term forecast implications, is unchanged."