Cisco’s Price Target Boosted at Oppenheimer (CSCO)

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Networking products maker Cisco Systems, Inc. ( CSCO ) on Thursday saw its price target raised by analysts at Oppenheimer.

The firm said it now expects CSCO shares to reach $20, suggesting a 16% upside to the stock' Wednesday closing price of $17.25.

Oppenheimer also maintained its "Outperform" rating, noting the company seems to be adopting a more aggressive competitive stance in the marketplace.

Cisco shares, which have lost around 15% of their value year-to-date, fell 13 cents, or 0.8%, in premarket trading Thursday.

The Bottom Line
Shares of Cisco Systems ( CSCO ) have a 1.39% dividend yield, based on last night's closing stock price of $17.25. The stock has technical support in the $14-$15 price area. If the shares can firm up, we see overhead resistance around the $18 price level.

Cisco Systems, Inc. ( CSCO ) is not recommended at this time, holding a DARS™ Rating of 3.0 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.

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This article appears in: Investing , Stocks

Referenced Stocks: CSCO

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