Pacific Crest Confident on Cisco’s Future and 2 More Heavily Traded Stocks to Follow
Cisco Systems Inc. (NASDAQ:CSCO): Current price $23.25
Analysts Brent Bracelin and Josh Beck at Pacific Crest have met with Cisco Data Center Director Brian Schwarz, and wrote in a note on Friday that they now are more confident that the firm can both sustain share gains in the $50 billion server market, and also become a preferred platform to host network function virtualization software at large operators. Bracelin and Beck advise investors to use the recent weakness in Cisco to pick up more shares prior to its analyst day in December and Insieme launch in November. Besides that, they reiterated their Outperform and $30 price target.