JP Morgan Downgrades Cisco Systems to "Underweight" (CSCO)

JP Morgan Downgrades Cisco Systems to “Underweight” (CSCO)

RSS

Cisco Systems, Inc. (CSCO) was downgraded by JP Morgan on Thursday as the analysts said the company is exposed to sluggish enterprise spending.

The analysts downgraded CSCO from “Neutral” to “Underweight” and see shares reaching $18. This target suggests a -14.4% downside to Wednesday’s closing price of $21.03.

Cisco shares were down 27 cents, or -1.28%, during pre-market trading on Thursday. The stock is up +10.34% over the past year,

The Bottom Line
Shares of Cisco Systems (CSCO) have a 2.66% dividend yield, based on last night’s closing stock price of $21.03. The stock has technical support in the $19 price area. If the shares can firm up, we see overhead resistance around the $22-$24 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.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today