Networking giant Cisco Systems, Inc. (CSCO) has witnessed a decent run on the share market, with its stock gaining more than 10% over the past three months. Further bolstering its position is the staunch backing from institutional investors who hold a commanding 75% stake in the company.
Moreover, the company’s prospects have been further endorsed by J.P. Morgan analyst Samik Chatterjee who raised his rating on Cisco’s stock from Neutral to Overweight, augmenting his price target from $55 to $62. This upgrade comes on the heels of orders showing signs of bottoming.
