I just picked up a new position in CSCO at $25 per share.
Credit Suisse has this to say about CSCO:
Strong quarter and outlook point to further recovery in business conditions and CSCO’s earnings power. Longer-term, we continue to expect a number of new market opportunities to return revenue and EPS growth to 12+%.Cisco posted year-over-year order growth of 25 – 50+% in all four of its customer markets and 30 – 50+% in its four largest geographic markets—the U.S., Europe, Asia-Pacific and Emerging Markets—while all regions generated 15 – 40+% year-over-year revenue growth.
The Street says:
We rate CISCO SYSTEMS INC (CSCO) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company’s strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, expanding profit margins, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures.
I am pleased to pickup CSCO as such a great price. If the stock drops to $20 I will pickup another 1/4 position.