Cisco price target raised to $61 from $56 at Barclays

Barclays analyst Tim Long raised the firm’s price target on Cisco (CSCO) to $61 from $56 and keeps an Equal Weight rating on the shares. The company last night reported in line fiscal Q2 sales results while earnings beat, the analyst tells investors in a research note. The firm says the strength was broad-based as networking demand and order growth drove the solid results.