Cisco: shares rise on broker upgrade
(CercleFinance.com) - Cisco shares rose 1.
5% on Thursday after Morgan Stanley upgraded the stock from "equal weight" to "overweight," citing positive trends in networking and security.
Cisco's P/E discount to the S&P 500 index has grown to over 7x, reaching 10-year highs, despite durable earnings growth, the broker says in a note.
Morgan Stanley thinks growing networking and security needs, cash flow flexibility and opex discipline should provide tailwinds and help the stock to close its gap.
The analyst raised his target price for the stock from 46 dollars to 54 dollars.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5% on Thursday after Morgan Stanley upgraded the stock from "equal weight" to "overweight," citing positive trends in networking and security.
Cisco's P/E discount to the S&P 500 index has grown to over 7x, reaching 10-year highs, despite durable earnings growth, the broker says in a note.
Morgan Stanley thinks growing networking and security needs, cash flow flexibility and opex discipline should provide tailwinds and help the stock to close its gap.
The analyst raised his target price for the stock from 46 dollars to 54 dollars.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.