Cisco Systems is now more appealing than originally thought at lower levels.
The catalyst from the shift to software is still taking a long time backing the original bearish thesis.
The ability to boost the net payout yield via massive stock buybacks has changed the equation.
The stock offers a near 11% yield.
MyviewonCisco Systems(CSCO) was rather harsh as the networking giant saw the stock surge in the last year, but the actual quarterly results didn't improve significantly. The aggressive use of cash repatriated from foreign locations combined with solid execution onrecent earnings reportshas my view turning more bullish now.