Networking products maker Cisco Systems, Inc. ( CSCO ) on Thursday caught a big upgrade from analysts at Auriga USA.
The firm said it boosted its rating on CSCO from "Hold" to "Buy," noting the company is now well-positioned to gain further market share. Auriga also set a $20 price target on CSCO, suggesting a 26% upside to the stock's Wednesday closing price of $15.88.
Cisco shares were mostly flat in premarket trading Thursday.
The Bottom Line
Shares of Cisco Systems ( CSCO ) have a 1.51% dividend yield, based on last night's closing stock price of $15.88. The stock has technical support in the $14 price area. If the shares can firm up, we see overhead resistance around the $16-$18 price levels.
Cisco Systems, Inc. ( CSCO ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.
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