Cisco Systems, Inc. (NASDAQ:CSCO) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued on Wednesday, StockTargetPrices.com reports. The firm currently has a $27.50 price target on the network equipment provider’s stock, up from their previous price target of $17.00. JPMorgan Chase & Co.’s price objective would suggest a potential downside of 0.29% from the stock’s previous close.
A number of hedge funds recently modified their holdings of the company. Curbstone Financial Management Corp boosted its stake in shares of Cisco Systems by 2.0% in the first quarter. Curbstone Financial Management Corp now owns 76,504 shares of the network equipment provider’s stock worth $2,178,000 after buying an additional 1,500 shares during the period. Hollencrest Securities LLC boosted its stake in shares of Cisco Systems by 0.4% in the first quarter. Hollencrest Securities LLC now owns 35,453 shares of the network equipment provider’s stock valued at $1,009,000 after buying an additional 128 shares in the last quarter. Founders Capital Management LLC boosted its stake in shares of Cisco Systems by 4.3% in the first quarter. Founders Capital Management LLC now owns 79,915 shares of the network equipment provider’s stock valued at $2,275,000 after buying an additional 3,283 shares in the last quarter. Pensionfund Sabic bought a new stake in shares of Cisco Systems during the first quarter valued at $3,416,000. Finally, Pensionfund DSM Netherlands bought a new stake in shares of Cisco Systems during the first quarter valued at $7,402,000.
Source: American Banking and Market News