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Cisco’s Target Raised at Morgan Stanley (CSCO)

By Dividend.com,  April 10, 2012, 08:43:24 AM EDT

Networking equipment maker Cisco Systems, Inc. ( CSCO ) on Tuesday caught some positive commentary from analysts at Morgan Stanley.

The firm maintained its "Overweight" rating on CSCO and lifted its price target to $23. That new target suggests a 15% upside to the stock's Monday closing price of $19.99.

Morgan Stanley said it made the move because recent data points indicate the company is slowly improving its capital spending.

Cisco shares, which have risen 10% year-to-date, posted modest gains in premarket trading Tuesday.

The Bottom Line
Shares of Cisco Systems ( CSCO ) have a 1.60% dividend yield, based on last night's closing stock price of $19.96. The stock has technical support in the $18 price area. If the shares can firm up, we see overhead resistance around the $21-$22 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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