Stock Update (NASDAQ:CSCO): Cisco Systems, Inc. and VECTOR to Bring Fast Innovation to the European Cable Access Market
Cisco Systems, Inc. (NASDAQ:CSCO) and VECTOR announced their collaborative efforts to bring cable operators future-proof answers to current challenges of network evolution. Working together, the two companies will be able to offer operators a synergy of best-in-breed cable access technology from both companies including nodes, RF amplifiers and DOCSIS 3.1 Remote PHY (R-PHY) equipment. This is a direct response to the industry need for European-style products for optimized size and power consumption on the so-called compact form factor.
The companies have agreed to bring fast innovation to the cable access market by bringing VECTOR’s core cable equipment competencies together with Cisco’s cable transmission products. In the future, VECTOR and Cisco plan to work together to bring leading-edge joint solutions to meet their cable operator customers’ needs, including HFC DOCSIS 3.1 Remote-PHY equipment, among others solutions. (Original Source)
Shares of Cisco closed yesterday at $28.24 . 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 $29.06 and its 200-day moving average is $28.07.
On the ratings front, Cisco has been the subject of a number of recent research reports. In a report issued on June 3, Nomura analyst Stuart Jeffrey assigned a Hold rating on CSCO, with a price target of $32, which implies an upside of 13.3% from current levels. Separately, on the same day, RBC’s Mark Sue upgraded the stock to Buy and has a price target of $33.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Stuart Jeffrey and Mark Sue have a total average return of 14.2% and 6.6% respectively. Jeffrey has a success rate of 75.6% and is ranked #469 out of 3619 analysts, while Sue has a success rate of 61.6% and is ranked #730.
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 15.6% from current levels.