Cisco Systems (CSCO): Raising PT Ahead of the Print - Jefferies
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Jefferies analyst, George Notter, reiterated his Buy rating on shares of Cisco (NASDAQ: CSCO) but raised his price target to $35.00 (from $30.75) ahead of earnings. This new price target is based on 11.2x the base case '17 EPS projection. The analyst's higher target multiple is driven by "improved comparable company valuations as well as a number of potential fundamental catalysts (and some reduced risks) for the business".
Shares of Cisco closed at $31.12 yesterday.
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