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Morgan Stanley Boosts Estimates for Cisco; Domestic Demand Improving (CSCO)

By
September 28th, 2012

Morgan Stanley Boosts Estimates for Cisco; Domestic Demand Improving (CSCO)

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Networking equipment maker Cisco Systems, Inc. (CSCO) on Friday received some bullish commentary from analysts at Morgan Stanley.

The firm lifted its earnings estimates for CSCO through 2014, noting that recent channel checks indicate improving domestic demand. Morgan Stanley also reiterated its “Overweight” rating and $22 price target for Cisco, which suggests a 17% upside to the stock’s Thursday closing price of $18.80.

Cisco shares were mostly flat in premarket trading Friday.

The Bottom Line
Shares of Cisco Systems (CSCO) have a 2.98% dividend yield, based on last night’s closing stock price of $18.80. The stock has technical support in the $16-$17 price area. If the shares can firm up, we see overhead resistance around the $20-$21 price levels.

Cisco Systems, Inc. (CSCO) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.