Cisco Well-Positioned For VoIP Market

"Banc of America Securities reiterated a 'buy' rating and $24 target price on Cisco Systems (nasdaq: CSCO - news - people ), saying the company is well-positioned to take advantage of voice-over-IP, which could be 'the next big thing' in IT spending. 'We believe the ability to reduce network costs and create new revenue generating services will drive adoption,' Banc of America said. 'Quality of service is no longer an impediment.' Enterprise spending on VoIP solutions is expected to grow at a compound annual rate of 20%, according to research firm IDC. Given Cisco's strong presence in the faster growing IP PBX market, Banc of America believes the company can achieve low 20% year-over-year growth over the next several years."

[Forbes.com]