Cisco: Jefferies raises target price
(CercleFinance.com) - Jefferies analysts today raised their target price for the share of Cisco Systems from 49 dollars to 51 dollars, reinstating their "Buy" rating on the stock.
"This is an unsurprising performance from Cisco given the current COVID19 pandemic/recessionary environment. The company provided softer top line guidance, but they're moving to preserve EPS power in the business (as they've done historically during periods of top line pressure)," the broker said.
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