In a research report released Thursday, Cantor analyst Brian White maintained a Buy rating on Cisco (NASDAQ:CSCO) and slightly raised the price target to $33 (from $31), as the company reported solid fiscal second-quarter results with a stronger-than-expected 3Q:FY15 outlook.
White noted, “With another quarter of consistent performance under Cisco’s belt, combined with a depressed valuation (i.e., 9x our CY:16 EPS estimate, ex-cash) and a hearty dividend yield of 3.1% on the stock, we believe investors will continue to show interest in Cisco. As such, we are raising our estimates and increasing our 12-month price target to $33.00 on our newly introduced CY:16 EPS projection.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Brian White has a total average return of 20.1% and a 73.3% success rate. White has a 13.4% average return when recommending CSCO, and is ranked #16 out of 3510 analysts.