Market Overview

UPDATE: Piper Jaffray Raises PT to $22 on Cisco Systems Post Analyst Day

Share:
Related CSCO
Avago Shares Initiated Buy, Mizuho Sees 'Strong' 4G
Staggering Stats: The Sky's The Limit For The Cloud
Alcatel-Lucent Very Quietly Had A Breakthrough Week (Seeking Alpha)

Piper Jaffray reiterated its Overweight rating on Cisco Systems (NASDAQ: CSCO) and raised its price target from $21 to $22.

Piper Jaffray said, "Cisco's analyst day reaffirmed our conviction in the company's leadership, vision, and execution, and we believe their goal in becoming the #1 IT vendor is an admirable and achievable long-term objective. We anticipate the focus on acquiring and investing in higher growth, higher margin business segments will allow the company to achieve its business model targets of 5-7% revenue growth and 7-9% EPS growth. We continue to believe Cisco represents an attractive investment given the company's improved execution and attractive valuation."

Cisco Systems closed at $19.34 on Friday.

Latest Ratings for CSCO

DateFirmActionFromTo
May 2015Sterne AgeeDowngradesBuyNeutral
May 2015MKM PartnersMaintainsNeutral
May 2015Pacific CrestUpgradesOverweight

View More Analyst Ratings for CSCO
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (CSCO)

Around the Web, We're Loving...