Citigroup Raises Price Target on Cisco (CSCO)

Citigroup Raises Price Target on Cisco (CSCO)

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Early Friday, analysts at Citigroup boosted the price target on networking equipment giant Cisco Systems, Inc. (CSCO) due to its sound execution in an improving economy.

The analysts maintain a “Buy” rating on CSCO and see shares reaching $24. This target suggests about a 14% upside to Thursday’s closing price of $21.09.

Cisco shares were up 16 cents, or +0.78%, during morning trading on Friday. The stock is up about +4% in the trailing twelve months.

The Bottom Line
Shares of Cisco (CSCO) have a dividend yield of 2.65% based on Friday’s intraday trading price of $21.17 and the company’s annualized dividend payout of 56 cents per share.

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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