Morgan Keegan Maintains Outperform on Cisco Systems

Morgan Keegan is out with its report today on Cisco Systems (NASDAQ: CSCO), maintaining Outperform.

In a note to clients, Morgan Keegan writes, "We maintain our Outperform rating on Cisco. Long term traffic and network evolution trends still favor Cisco while repositioning leaves the near term uncertain. With a CY12 EV/EBITDA below 4x the stock appears attractive."

Morgan Keegan maintains a $23.50 PT on CSCO.

At the time of posting, shares of CSCO were trading pre-market at $14.92, down 0.07% from Friday's close.