Citigroup Raises Price Target on Cisco (CSCO)

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 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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