In a research report published earlier today, J.P. Morgan explained that Cisco Systems, Inc.'s CSCO enterprise spending appears to be holding up better than expected.
J.P. Morgan commented in the report, “We expect Cisco to be supported by a reinvigorated sales force and focus on execution with product refreshes in multiple areas leading to potential share gains. We also see a possibility for margin improvement given ongoing cost reduction efforts.”
J.P. Morgan reiterates its Overweight rating and $21 PT on Cisco Systems, which closed Friday at $20.09.
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