Cisco Systems, Inc. (NASDAQ:CSCO) Moves Up After Analyst Maintains Buy Rating
Cisco Systems, Inc. (NASDAQ:CSCO) closed up on Friday after an analyst at Sterne Agee kept their buy rating on the stock. However, the price target was reduced to $23 a share from $27, said Shaw Wu in a research note on Friday. The analyst said Cisco expects weak demand trends and longer sales cycles, but the company has raised their presence in the market.
Sterne Agee analyst Shaw Wu said that Cisco is an underappreciated turnaround story comparable to what EMC Corporation (NYSE:EMC), International Business Machines Corp. (NYSE:IBM) and Apple Inc. (NASDAQ:AAPL) have shown in the past.
In other news, the San Jose network equipment maker is reportedly predicting to win unconditional EU approval for its $5 billion purchase of TV software developer NDS after regulators provided a sign that the deal would not cause any serious rivalry issues.
At the close of the trading day, Cisco Systems, Inc (NASDAQ:CSCO)shares rose +2.07% to settle at $16.31. Intraday trading was between $15.98 – $16.37. In the past year, the stock has traded within a range of $13.30 – $21.30. The last session’s volume of 24.55 million shares was down from the average daily trading volume of 37.21 million shares.
Alcatel Lucent SA (ADR) (NYSE:ALU) shares were down -2.05% to close at $1.43. The stock traded between $1.41 – $1.46 during the last trading session. In the last 12 months the shares have traded between $1.39 and $5.27. The last session’s volume of 22.05 million shares was a bit lower than their average daily trading volume of 13.00 million shares.
Hewlett-Packard Company (NYSE:HPQ) shares in the last session were down -1.91% closing at $18.98. The stock traded in a range of $18.77 – $19.20. In the last year the stock has moved within a range of $18.77 – $37.70. The last session’s volume of 30.57 million shares was down from their average daily trading volume of 17.31 million shares.
Another rival company Juniper Networks, Inc (NYSE:JNPR), traded down -0.07% moving to $14.50. Intraday trading recorded the stock price in a range between $14.44 – $14.71. In the previous 52 weeks the price has traded between $14.17 – $32.17. The last session’s volume of 5.34 million shares was up from their average daily trading volume of 187.80 million shares.