Networking equipment maker Cisco Systems, Inc. (
) on Wednesday caught a big upgrade from analysts at MKM
The firm boosted its rating on CSCO from "Neutral" to "Buy"
while lifting its price target from $20 to $24. That new target
suggests a 27% upside to the stock's Tuesday closing price of
An MKM analyst commented, "Our recent U.S. value added reseller
) checks suggest the order rate likely stabilized in August and
early September and has been slightly accelerating in late
September with a similar trajectory heading into October."
Cisco shares were unchanged in premarket trading Wednesday.
The Bottom Line
Shares of Cisco Systems (
) have a 2.97% dividend yield, based on last night's closing stock
price of $18.87. 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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