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Cisco Upgraded to “Outperform” at BMO Capital (CSCO)

By Dividend.com,  June 20, 2012, 08:57:09 AM EDT

Networking equipment maker Cisco Systems, Inc. ( CSCO ) on Wednesday caught a big upgrade from analysts at BMO Capital Markets.

The firm said it boosted its rating on CSCO from "Market Perform" to "Outperform" with a $21 price target, suggesting a 22% upside to the stock's Tuesday closing price of $17.18.

BMO Capital noted the company's sizable cash flow means the stock deserves a higher multiple.

Cisco shares rose 15 cents, or +0.9%, in premarket trading Wednesday.

The Bottom Line
Shares of Cisco Systems ( CSCO ) have a 1.86% dividend yield, based on last night's closing stock price of $17.18. The stock has technical support in the $15 price area. If the shares can firm up, we see overhead resistance around the $18-$19 price levels.

Cisco Systems, Inc. ( CSCO ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: CSCO



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