Cisco Systems (CSCO): Raising PT Ahead of the Print - Jefferies

August 17, 2016 7:19 AM EDT
Get Alerts CSCO Hot Sheet
Price: $30.60 +1.09%

Rating Summary:
    32 Buy, 25 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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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".

For an analyst ratings summary and ratings history on Cisco click here. For more ratings news on Cisco click here.

Shares of Cisco closed at $31.12 yesterday.

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