Boston, MA 08/18/2014 (wallstreetpr) –The network and other communication device maker Cisco Systems, Inc. (NASDAQ:CSCO) has got favorable comments from at least three brokerages as their analysts’ have increased their price target on the company’s shares. However, the brokerages preferred to retain their respective rating on the stock. Their action comes on the heels of the company disclosing its outlook for the next fiscal year 2015, which was somewhat soft, and the job cuts.
Price Tag Boosted
Investment advisor UBS had lifted its price target by 9.4% to $29 a share from its earlier price objective of $26.50. This suggests that there is still an upside possibility of 18.7% from Friday’s closing price of $24.43.
Similarly, Stifel had boosted its price tag by 7.1% to $30 from the earlier price target of $28, which indicates possible rewards of 22.8% based on the closing price of Friday’s regular trading session.
Another brokerage, MKM Partners too joined the party in increasing the price objective by 3.7% to $28 from $27, which meant potential upward rewards of 14.6%. The brokerage expects Cisco to maintain outperforming in the rest of the current calendar year as the orders were increasing at or close to a low-double digit percentage points.
Rating Unchanged
The three investment advisors have not made any changes in their rating of the network device maker shares. While UBS reiterated its Buy rating, Stifel had maintained the rating of Buy on the company’s stock.
MKM Partners too retained its Neutral rating on Cisco Systems, Inc. (NASDAQ:CSCO)’s shares. However, its analyst Genovese believes that owning the company’s shares was profitable once its revenue and orders uptick started accelerating.
Other Brokerages
There are other investment advisors who preferred to retain their earlier rating and price objective. For instance, Morgan Stanley (NYSE:MS) had reiterated its Overweight rating, as well as, the price tag of $30 on Cisco Systems, Inc. (NASDAQ:CSCO)’s shares. The brokerage had justified its stand as the enterprise growth and orders were compelling and the continuous build up for its new products.
Similarly, Bank of America had retained its rating of Buy and price tag of $28 citing portfolio changes indicated early signs of success and that the management was ramping up gradually to the next few quarters.
