Citigroup Maintains Cisco Systems to Buy with Price Target $35.00

Brokerage firm Citigroup Maintains its rating on Cisco Systems(NASDAQ:CSCO). In a research note issued to the investors, the brokerage major Raises the price-target to $35.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Aug 9, 2016.

In a different note, On Jun 16, 2016, UBS said it Maintains its rating on Cisco Systems. In the research note, the firm Lowers the price-target to $30.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 15, 2016, Goldman Sachs said it Downgrades its rating on Cisco Systems. In the research note, the firm Lowers the price-target to $35.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 19, 2016, Barclays said it Maintains its rating on Cisco Systems. In the research note, the firm Raises the price-target to $29.00 per share. The shares have been rated ‘Overweight’ by the firm. On May 19, 2016, Credit Suisse said it Maintains its rating on Cisco Systems. In the research note, the firm Raises the price-target to $22.00 per share. The shares have been rated ‘Underperform’ by the firm. On May 19, 2016, JP Morgan said it Maintains its rating on Cisco Systems. In the research note, the firm Raises the price-target to $27.50 per share. The shares have been rated ‘Neutral’ by the firm. On May 19, 2016, BMO Capital said it Maintains its rating on Cisco Systems. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Outperform’ by the firm.

Cisco Systems (CSCO) shares turned negative on Wednesdays trading session with the shares closing down -0.4 points or -1.29% at a volume of 5,50,71,218. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $30.9701. The peak price level was also seen at $30.9701 while the days lowest was $30.33. Finally the shares closed at $30.72. The 52-week high of the shares is $31.245 while the 52-week low is $22.46. According to the latest information available, the market cap of the company is $154,513 M.

Cisco Systems(CSCO) last announced its earnings results on May 18, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $12.00B. Analysts had an estimated revenue of $11.97B. Earnings per share were $0.57. Analysts had estimated an EPS of $0.55.

Several Insider Transactions has been reported to the SEC. On Jun 24, 2016, Pankaj Patel (EVP, Chief Development Officer) sold 9,891 shares at $29.03 per share price.Also, On Jun 16, 2016, Karen Walker (SVP & Chief Marketing Officer) sold 7,802 shares at $28.50 per share price.On Jun 3, 2016, Rebecca Jacoby (SVP & Chief of Operations) sold 90,000 shares at $28.97 per share price, according to the Form-4 filing with the securities and exchange commission.

Cisco System Inc. (Cisco) designs and sells lines of products provides services and delivers integrated solutions to develop and connect networks around the world building the Internet. The Company is engaged in designing manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provides services associated with these products and their use. The Company operates its business through three segments: The Americas; Europe Middle East and Africa (EMEA) and Asia Pacific Japan and China (APJC). It groups its products and technologies into the various categories such as Switching Next-Generation Network (NGN) Routing Collaboration Service Provider Video Data Center Wireless Security and Other Products. In addition to its product offerings it provides a range of service offerings including technical support services and advanced services.

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