Broadpoint.Amtech analyst Mark McKechnie has turned bullish on Cisco (CSCO), boosting his rating on the shares to Buy from Neutral, and setting a $29 target. The stock closed yesterday at $23.87.
The analyst lifted his EPS forecast for the July 2010 fiscal year by a penny to $1.43; for FY 2011 he goes to $1.65, from $1.58. (He’s in line with the Street for 2010, and a bit ahead of the consensus of $1.61 for 2011.)...MORE