Citigroup Upgraded Cisco Systems To Buy, Lifted Its PT To $22

November 11, 2011

Citigroup upgraded Cisco Systems (NASDAQ:CSCO) to buy from neutral and raised its price target to $22 from $19.The bank sees 2012 EPS of $1.80, up from $1.75 per share, and 2013 EPS of $2.00, up from $1.96 per share.Cisco Systems has potential upside of 5.4% based on a current price of $18.82 and an average consensus analyst price target of $19.83.Cisco Systems is currently above its 50-day moving average (MA) of $16.76 and above its 200-day of $16.89.