Cisco System stock gets thumbs up from Piper Jaffray, thestreet.com
Cisco System stock gets thumbs up from Piper Jaffray, thestreet.com
Piper Jaffray’s analysts hiked price target on Cisco Systems from $26 to $33. The stock’s rating, ‘overweight’, was retained by the investment banker on Thursday, said Ravi Namboori, a Cisco evangelist, who follows this company studiously, citing a report from thestreet.com.
Piper Jaffray hiked its price after the networking behemoth got a fillip from surveys that see higher demand for its products from customers.
Citing the firm, Ravi Namboori said CIOs were said to be increasing their spending on networking equipment, such as routing, switching, and WLAN.
TheStreet.com, on the other hand, feels that Cisco Systems is a good buy and rated it A-. It felt that this stock would outperform most other technology stocks. The company’s revenue growth, increasing profit margins, and strong financial fundamentals, etc. were taken into consideration by the financial news website.
Other major reasons cited for recommending this stock by the thesteet.com are that the Cisco’s revenue increase surpassed the industry average, which stands at 5.5%. Compared with the same quarter a year ago, its revenues grew 1.3%. P/E of the company, however, did not grow proportionately.
Although it right now has a debt-to-equity ratio of 0.37, which is rather low, it is still better than the industry average, avers the Cisco evangelist, quoting the website
It also can be seen that it has outdone the S&P 500’s growth during the same period. Looking at the future of the stock, nothing can be guaranteed in the market, but the stock looks real good, concludes Ravi Namboori.
