Bank Of America Weighs In On Cisco Systems, Linear Technology
Analysts at Bank of America reiterated their Buy rating for Cisco Systems, Inc. (NASDAQ: CSCO) on Friday, setting a $30 price target. The firm also downgraded Linear Technology Corporation (NASDAQ: LLTC) from Buy to Neutral, but boosted its price target from $45 to $49.
Despite the dissimilar ratings, the upside potential implied in both these stocks is comparable, around 8 and 7 percent, respectively.
Other research firms also seem fond of Cisco. On December 9, Wedbush initiated coverage on the stock with an Outperform rating and a $31.50 price target. In the previous week, UBS had reiterated its Buy recommendation of the stock, setting a $30.50 price target.
On December 11, R. W. Baird analyst Jayson Noland also reiterated an Outperform rating for Cisco, and raised his price target to $32 from $29.
Related Link: Why Cisco Thinks It's Well Positioned For The Future
The company declared on December 11 a $0.19 per share quarterly dividend payable January 21 to shareholders (of record as of January 6, 2015). The yield now stands around 2.8 percent.
Bank of America downgraded Linear Technology and set a $49 price target based on “20x FY16E PE or approximately 12x EBITDA, right at the mid-point of the 5 year valuation range.” Although analysts like the company’s prospects, management team and asset base, they believe the stock’s valuation already reflects much of the upside.
More bearish is Citigroup, which reiterated a Sell rating for the stock on December 18, fixing a $39 price target, below the recent stock price of $45.68.
Latest Ratings for CSCO
Dec 2014 | Bank of America | Maintains | Buy | |
Dec 2014 | Wedbush | Initiates Coverage on | Outperform | |
Dec 2014 | UBS | Maintains | Buy |
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