NEW YORK (TheStreet) -- Shares of Cisco Systems (CSCO) - Get Cisco Systems, Inc. Report are climbing 3.41% to $27.63 as Drexel increased its price target on the stock to $36 from $34 and maintained its "buy" rating.

"Last night, Cisco's strong execution in 3Q:FY16 overpowered a challenging demand environment with upside in the quarter," Drexel analysts said in an investor note.

Yesterday, Cisco reported 2016 fiscal third quarter earnings of 57 cents per share on revenue of $12 billion. Analysts estimated earnings of 55 cents per share on revenue of $11.97 billion.

Cisco has "reinvented" itself by building on subscription business, making Internet traffic more secure and applied. It also has adapted to such things as the cloud, keeping its 180 billion customer base satisfied, TheStreet's Jim Cramer, manager of Action Alerts PLUS Portfolio, comments.

In addition, Credit Suisse increased its price target on the stock to $24 from $22, reiterating its "underperform" rating and Barclays raised its price target to $31 from $29, maintaining its "overweight" rating.

The San Jose, CA-based company designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks worldwide.

Separately, TheStreet Ratings rated Cisco as a "buy" with a score of A-.

TheStreet Recommends

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon.

Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that are rated.

The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels, expanding profit margins and good cash flow from operations.

TheStreet Ratings feels its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

You can view the full analysis from the report here: CSCO

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