UPDATE: Wedbush Raises PT on Cisco Systems 'to Reflect Better Visibility'
In a report published on Friday, Wedbush analyst Rohit Chopra raised the price target on Cisco Systems (NASDAQ: CSCO) from $24 to $26 and reiterated an Outperform rating.
In the report, Wedbush stated, "On June 25/26, 2013, Cisco will host a two-day analyst event in Orlando, concurrent with its partner conference. We believe the key agenda items for the meeting will likely include a strategic and technology roadmap, a path to increasing the services capabilities and an introduction of new SDN products...While there are uncertainties given the volatile environment, we believe the stock is a solid name in networking that offers relative stability, and we think LT investors should be invested in the name."
Cisco Systems closed on Thursday at $24.43.
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