Sterne Agee released a note giving its nod of approval to Cisco’s (NASDAQ:CSCO) acquisition of NDS.Sterne said that its $5 billion acquisition of the UK-based company allows it to invest part of its huge overseas cash reserve that allows them to overstep repatriation taxes.Cisco is just one of the major US firms that’s lobbying for a tax break on overseas cash reserves, and has advised that it would boost its US spending if that break was permitted.Cisco Systems (NASDAQ:CSCO) has potential upside of 16.3% based on a current price of $19.91 and an average consensus analyst price target of $23.16.
