Cisco Wows Wall Street

Updated from 2 p.m.

Cisco (CSCO Quote), the sleeping 800-pound gorilla of networking gear, is showing signs of new vitality.

At least that's what one analyst concludes after sitting through the company's state-of-the-business presentation this week, and ruminating on the company's big gamble last month to take a leading role in the future of TV.

Upgrading Cisco to a buy after more than a year with a neutral rating, JPMorgan Chase analyst Ehud Gelblum says the San Jose, Calif.-based tech giant has shown a willingness to throw some of its cash around to climb out of its router rut. ...