Cisco Systems, Inc. (NASDAQ:CSCO) announced that Sky, Europe’s leading entertainment company with more than 21 million customers, will extend its collaboration with Cisco for set top box middleware solutions, supporting Sky’s expansion of products and services to an even wider audience.
The companies have a long-standing relationship working together to change the face of video entertainment services, including, as announced in January, their collaboration on the Sky AdSmart addressable TV advertising ecosystem for which Cisco contributed key components of its cloud video portfolio.
As part of their extended relationship, Sky will continue to utilize Cisco’s industry-leading security portfolio that includes the next-generation evolution of the Cisco VideoGuard conditional access (CAS) and digital rights management (DRM) solutions, to securely deliver content to its millions of subscribers.
- Alun Webber, Managing Director, Product Design & Development, Sky
“Our relationship with Cisco is critical to helping us realize our vision to accelerate time to market for the delivery of advanced entertainment services for our DTH subscribers that offer greater choice, convenience and control.”
- Yvette Kanouff, senior vice president and general manager, Service Provider Video Software and Solutions, Cisco
“We celebrate many great accomplishments with our longtime collaboration with Sky, together tackling the operational hurdles to drive their connected multiscreen initiatives, and move to a world of faster, better video anywhere. (Original Source)
Shares of Cisco closed yesterday at $26.26. 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 $27.25 and its 200-day moving average is $28.01.
On the ratings front, Cisco has been the subject of a number of recent research reports. In a report issued on September 1, Bernstein Research analyst Pierre Ferragu reiterated a Buy rating on CSCO, with a price target of $34, which implies an upside of 29.5% from current levels. Separately, on August 17, Morgan Stanley’s James Faucette downgraded the stock to Hold and has a price target of $30.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Pierre Ferragu and James Faucette have a total average return of -1.0% and 11.1% respectively. Ferragu has a success rate of 61.4% and is ranked #2794 out of 3754 analysts, while Faucette has a success rate of 77.4% and is ranked #389.
The street is mostly Bullish on CSCO stock. Out of 15 analysts who cover the stock, 10 suggest a Buy rating , 4 suggest a Hold and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $32.77, which implies an upside of 25% from current levels.