Networking equipment maker Cisco Systems, Inc. (CSCO) on Monday received some continued bullish support from analysts at Goldman Sachs.
The firm reiterated its “Buy” rating for CSCO, citing the company’s movement to capitalize on software-defined networking (SDN).
A Goldman analyst commented, “The bottom line is that Cisco is acting rapidly to intercept the SDN trend, and we view its strategy as sound, though the long-term impact from SDN cannot be ascertained at this time. We maintain our Buy rating, driven by Cisco’s solid execution, competitive current product portfolio, upgrade cycles (to 10G in data centers and 100G in core networks), and valuation.”
Cisco shares rose 10 cents, or +0.5%, in late morning trading Monday.
The Bottom Line
Shares of Cisco Systems (CSCO) have a 1.87% dividend yield, based on Friday’s closing stock price of $17.10. The stock has technical support in the $15 price area. If the shares can firm up, we see overhead resistance around the $18-$19 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.