Cisco Systems (CSCO): Raising PT Ahead of the Print - Jefferies
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
- BTIG Cuts PT on Workday (WDAY) to $88 Following Q3 Results; Affirms at 'Buy'
- Sonoco (SON) Affirms FY16 Outlook; Guides FY17 EPS Below Views
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!