Why Cisco Systems Topped the Market on Tuesday
One of the more up-and-down veteran tech stocks of this year, Cisco Systems (NASDAQ: CSCO), had a very pleasant up trading session Tuesday. The networking equipment company's share price climbed nearly 4% higher on an analyst's price target bump. That was a solid gain compared to the S 500 index, which only managed to inch up by 0.1% on the day.
Deutsche Bank's Matthew Niknam was the person behind the lift. Before market open, he added $1 per share to his Cisco price target for a new tally of $52. That caution reflects his general view of the stock, as he maintained his hold recommendation on it.
In a research note, Niknam wrote that the adjustment was due to changes in his estimates for the company, although it wasn't immediately clear which estimates, and to what degree he changed them.
Source Fool.com
Cisco Systems Inc. Stock
We see a rather positive sentiment for Cisco Systems Inc. with 12 Buy predictions and 1 Sell predictions.
With a target price of 53 € there is a slightly positive potential of 16.96% for Cisco Systems Inc. compared to the current price of 45.32 €.
