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Buy Cisco on 'solid' spending environment: Jefferies

Chuck Robbins, CEO of Cisco.
Pradeep Gaur | Mint | Getty Images

Investors should buy shares Cisco on the prospect of good earnings and guidance, according to Jefferies, which reaffirmed its buy rating on the technology company.

Cisco will report fiscal fourth quarter financial results after the market close on Wednesday.

"We continue to like the risk/reward here. Further, we expect the organization to provide solid July quarter results and October guidance," analyst George Notter wrote in a note to clients Wednesday.

"Our detailed analysis of June quarter EPS results across a wide swath of IT- and Service Provider-exposed vendors suggests that the environment remained relatively solid for Cisco during their July quarter."