UPDATE 1-Morgan Stanley ups Cisco target to $26
Fri Mar 17, 2006 9:25 AM ET
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March 17 (Reuters) - Morgan Stanley on Friday raised its price target of communications equipment maker Cisco Systems Inc. (CSCO.O: Quote, Profile, Research) to $26 from $23 and reiterated its "overweight" rating on the company's stock.
The brokerage said in a research note that over the next few years, Cisco is positioned to benefit from transitions in enterprise, service provider and consumer networks, which should drive superior revenue and earnings growth relative to other companies in the same sector covered by Morgan.
Shares of the company closed at $21.25 Thursday, on the Nasdaq. (Reporting by Supriya Kurane and Deepti Chaudhary in Bangalore) |
