Kansas City, MO., and Cisco Systems, Inc. (NASDAQ:CSCO) signed an agreement to deploy a Smart+Connected City framework to transform urban services and enhance the citizen experience.
As part of this new framework, Cisco is working with a group of business partners to bring together an ecosystem to develop applications including smart lighting, digital kiosks, a development data portal, and smart water innovation development.
Through this model in Kansas City, the goal is to create a framework to be scalable, repeatable, and self-sustainable.
In addition, Sprint will deploy Cisco hardware to construct and manage an intelligent Wi-Fi network that will serve as the backbone of the connectivity platform. Sprint is the first service provider to play an important connectivity role in the development of an U.S. based Cisco Smart+Connected Communities™ (S+CC) ecosystem.
Later this year, city leaders, Cisco, and other key partners will collaborate to execute “phase 1” deployments along the downtown Kansas City streetcar path and surrounding areas including:
- An intelligent Wi-Fi network constructed, managed and owned by Sprint
- An Enterprise Mobility Services Platform to enhance the resident and visitor experience over a mobile app
- A “Living Lab” development data portal managed by ThinkBig Partners
- Smart lighting and video as sensors in collaboration with Sensity
- CityPost interactive digital kiosks and mobile citizen engagement
- Future collaborations of smart water innovative solutions with Black & Veatch
- Identifying technologies for next-generation police cruisers
Beyond implementations, entrepreneurs may find value from the technology to further advance job opportunities. One example is that entrepreneurs and start-ups will be able to utilize the development data portal to create and test new apps. (Original Source)
Shares of Cisco closed last Friday at $28.58 . CSCO has a 1-year high of $30.31 and a 1-year low of $22.49. The stock’s 50-day moving average is $29.09 and its 200-day moving average is $28.04.
On the ratings front, Cisco has been the subject of a number of recent research reports. In a report issued on June 3, RBC analyst Mark Sue upgraded CSCO to Buy, with a price target of $33, which implies an upside of 15.5% from current levels. Separately, on the same day, Nomura’s Jeff Kvaal initiated coverage with a Hold rating on the stock and has a price target of $32.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mark Sue and Jeff Kvaal have a total average return of 6.7% and 11.4% respectively. Sue has a success rate of 61.6% and is ranked #731 out of 3612 analysts, while Kvaal has a success rate of 55.1% and is ranked #716.
The street is mostly Bullish on CSCO stock. Out of 13 analysts who cover the stock, 9 suggest a Buy rating and 4 recommend to Hold the stock. The 12-month average price target assigned to the stock is $32.65, which implies an upside of 14.2% from current levels.