Bank Of America Expects A Solid Quarter For Cisco Systems

In a report published Wednesday, Bank of America analyst Tal Liani reiterated a Buy rating and $28.00 price target on Cisco Systems (NASDAQ: CSCO).

In the report, Bank of America noted, “Cisco is scheduled to report earnings after the close today. We forecast revenue of $12.1bn, an operating margin of 28.1% and EPS of $0.51. We expect 1Q15 revenue and EPS guidance to be $12.2bn and $0.54, representing 0.9% and 4% QoQ growth, respectively. We believe Cisco will report solid trends and meet/beat our estimates, driven by new product cycles, positive seasonality, improving spending trends and a relatively low expectations bar. Maintain our BUY rating and $28 PO.”

Cisco Systems closed on Tuesday at $25.15.