Cisco Systems Inc. (NASDAQ: CSCO) is back from the grave. Suddenly John Chambers is no longer getting routine calls to step aside to let new blood run the company. Today cam word that UBS has raised the rating to “Buy” from “Neutral.”
UBS is following what many other analysts have done with this upgrade. The stock got too cheap. Actually, it got way too cheap. The verdict is still out over its streamlining effort of job cuts and cost cutting measures. UBS noted that it was channel checks showing solid demand in the U.S. along with some stabilization in the European spending climate.
More than a week ago Cisco was started as Buy at ISI Group, and we have seen upgrades in the last 75 days or so from firms like Auriga, RBC Capital, FBN Securities, Morgan Stanley, and Stifel Nicolaus.
Cisco shares are up 4.5% at $18.40, its highest level since early March, and its 52-week range is $13.30 to $24.60. See the chart below from StockCharts.com.
JON C. OGG
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.