Wells Fargo Reaffirms Their Buy Rating on Cisco (CSCO)

By Carrie Williams

Wells Fargo analyst Aaron Rakers maintained a Buy rating on Cisco (CSCOResearch Report) yesterday. The company’s shares closed yesterday at $47.50.

According to TipRanks.com, Rakers is a 5-star analyst with an average return of 14.7% and a 65.9% success rate. Rakers covers the Consumer Goods sector, focusing on stocks such as Electronics for Imaging, Applied Materials Inc, and Juniper Networks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cisco with a $53 average price target, representing an 11.6% upside. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $52 price target.

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Cisco’s market cap is currently $214.6B and has a P/E ratio of 131.94. The company has a Price to Book ratio of 4.89.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock.

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