NetApp (Nasdaq:NTAP), Juniper (Nasdaq:JNPR), Cisco (Nasdaq:CSCO) Top Picks of Canaccord

In the communications and storage segment for 2011, Canaccord Genuity released their top picks, where are NetApp (Nasdaq:NTAP), Juniper (Nasdaq:JNPR) and Cisco (Nasdaq:CSCO), none of them which is a surprise.

Canaccord said, "NetApp (Buy-rated) was a high quality 2010 momentum stock, which we view as sustainable into 2011. Our price target is $58.50, or 28x CY11 EPS of $2.09 (4x Sales). The 2010 year saw the company fundamentally out-performing at the top line in the first half, with a positive operating margin reset driving the second half. Although typically the less than balanced contribution driving consensus revisions would be cause for some concern, we see several catalysts taking shape for 2011 that should continue to propel the stock.

"We similarly view Juniper (Buy-rated) as a sustainable momentum candidate for 2011. Although NTM earnings advanced steadily throughout the year, which we expect to continue into 2011, the stock’s multiple remains attractively below recent highs. We see multiple and estimate expansion driving the shares in 2011. Our price target of $39 employs a 25x multiple on our CY 2011 EPS estimate of $1.55.

"Cisco’s (Buy-rated) challenges in calendar 2010 have been well documented. However, the company is undeniably a leading participant in what we expect to be some of the highest growth markets and geographies over the next several years. It has managed its business through macro and company-specific challenges to maintain an upper 20% EBIT margin profile, and the 10/40/100GbE product cycle is still in its infancy."

NetApp closed Monday at $55.35, up $1.55, or 2.88 percent. Juniper closed at $36.99, up $0.50, or 1.37 percent. Cisco closed at $19.62, up $0.07, or 0.36 percent.