Morgan Stanley Reiterates Overweight Rating, $22 PT on Cisco Systems
In a report published Monday, Morgan Stanley reiterated its Overweight rating and $22.00 price target on Cisco Systems (NASDAQ: CSCO).
Morgan Stanley noted, “CEO Chambers was confident and upbeat at Cisco's NYC analyst day, and focused on how services and software help keep GM stable, while a tight grip on opex takes op margin to the ‘high 20s,' vs. current guidance of ”mid-20s,” matching our est. Stable rev, a 3%+ div yld, and reasonable val keep us OW.”
Cisco Systems closed on Friday at $19.34.
Latest Ratings for CSCO
|Sep 2016||Raymond James||Maintains||Outperform|
|Sep 2016||Deutsche Bank||Maintains||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.