UBS AG Sets Cisco Systems Price Target at $22.00 (CSCO)

By admin | 6 years ago

Equities researchers at UBS AG (NYSE: UBS) dropped their target price on shares of Cisco Systems (NASDAQ: CSCO) from $24.00 to $22.00 in a report issued on Thursday. The firm currently has a “buy” rating on the stock.

Shares of Cisco Systems opened at 16.744 on Thursday. Cisco Systems has a 52 week low of $13.30 and a 52 week high of $21.30. The company has a market cap of $90.217 billion and a P/E ratio of 12.38.

Cisco Systems last announced its earnings results on Wednesday, May 9th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts predict that Cisco Systems will post $0.46 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus cut their price target on shares of Cisco Systems from $24.00 to $23.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Oppenheimer (NYSE: OPY) cut their price target on shares of Cisco Systems from $23.00 to $22.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at FBR Capital (NASDAQ: FBCM) cut their price target on shares of Cisco Systems from $22.50 to $20.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock.

Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.

About the author