Close

Goldman Sachs Upgrades Cisco (CSCO) to Conviction Buy

March 23, 2018 5:00 AM EDT
Get Alerts CSCO Hot Sheet
Price: $44.92 -0.22%

Rating Summary:
    28 Buy, 25 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 8 | Down: 42 | New: 10
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Goldman Sachs upgraded Cisco (NASDAQ: CSCO) from Buy to Conviction Buy with a price target of $54.00.

Analyst Rod Hall comments "As market volatility increases we also see Cisco as relatively defensive in our sector. Cisco’s end markets remain healthy and improving, with US top 4 carrier capex growing 13% and hyperscale capex growing 29% in 2018, and our December 2017 CIO survey implying 3.4% growth in enterprise networking spending in 2018. While a macro downturn would likely impact enterprise spending, we see both hyperscale and carrier spending as late cyclical to the extent they are cyclical at all. We also believe the current campus switching refresh provides better than normal support for Cisco’s enterprise 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 $43.07 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Hot Upgrades, Upgrades

Related Entities

Goldman Sachs Conviction Buy List, Goldman Sachs