Networking equipment maker Cisco Systems, Inc. (
) on Thursday caught some tepid commentary from analysts at
Jefferies & Co.
The firm maintained its "Hold" rating and $18 price target on
CSCO following the company's
third quarter earnings and weak fourth quarter
That target suggests a small downside to the stock's Wednesday
closing price of $18.78.
A Jefferies analyst commented, "…while the company is executing
rather well, the business remains highly-correlated with the ebbs
and flows of the global macro-economy." Accordingly, the firm cut
its earnings estimates for CSCO through 2013.
Cisco Systems shares fell $1.54, or -8.2%, in premarket trading
The Bottom Line
Shares of Cisco Systems (
) have a 1.70% dividend yield, based on last night's closing stock
price of $18.78. The stock has technical support in the $16-$17
price area. If the shares can firm up, we see overhead resistance
around the $20-$21 price levels.
Cisco Systems, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
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, as well as a detailed explanation of
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