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
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
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.