Deutsche Bank upbeat on Cisco shares after analyst meeting
By APWednesday, December 9, 2009
Ahead of the Bell: Cisco Systems
NEW YORK — Deutsche Bank analyst Brian Modoff said Cisco Systems Inc.’s meeting with analysts Tuesday reinforced his upbeat outlook on the networking gear maker and its shares.
Modoff said his conversations with Cisco’s management were “consistently positive,” and he expects the company’s share price to benefit from several of Cisco’s growth projects in virtualized data centers, routers and other areas.
Virtualization lets a single computer function like multiple machines, allowing companies to spend less on equipment and energy in their data centers.
Wedbush Morgan analyst Matthew Robison kept an “Outperform” rating on Cisco and said the company is “practicing what they preach with results.” He called CEO John Chambers’ presentation at the meeting “upbeat” and said he indicated “greater comfort than ever” with the company’s position.
Cisco shares fell 20 cents in premarket trading to $23.61
