MKM Partners' Michael Genovese initiates coverage of Cisco (CSCO -4.2%) with a Buy rating and...

|About: Cisco Systems, Inc. (CSCO)|By:, SA News Editor

MKM Partners' Michael Genovese initiates coverage of Cisco (CSCO -4.2%) with a Buy rating and $25 target price, the latest in a recent string of positive research notes (I, II), as "recently lowered multi-year forecasts appear reasonable and attractive." The stock trades at 10.2x 2012 estimated profit, vs. S&P's 11.4x.