UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on Cisco Systems as Continued Execution Should Improve Confidence

In a report published Wednesday, Morgan Stanley analyst James E. Faucette reiterated an Overweight rating on

, but removed the $30.00 price target. In the report, Morgan Stanley noted, “Our review of filings indicates that CSCO remained the least widely held large cap stock coming out of the Sep quarter, indicating to us that room remains for incremental buying of the stock, particularly as new products continue to ramp and potential for margin expansion improves.” Cisco Systems closed on Tuesday at $26.60.