Energy markets are experiencing their own March Madness, notes Phil Flynn, senior market analyst at ...
Cisco: "Making Big Moves"
05/09/2017 2:50 am EST
The company already entered agreements and partnerships that should add $1 billion in revenue. And it’s focusing on growing operations in India. That’s the fastest-growing market in the world, and one of the biggest, too.
Plus, the company is now offering software without the purchase of often-expensive hardware. That should bring on even more customers who couldn’t afford both.
The stock has pulled back some over the past month. Part of that has to do with the ongoing battle with Arista Networks (ANET) over patent infringement.
A panel recommended that the judge should rule in Arista’s favor. But Cisco plans to present evidence it hopes will sway that decision back in its favor.
The rest of the dip is related to investors worrying that the cash repatriation President Trump has planned might take longer than expected.
Even if it does take a little longer, that cash is still going to add some serious dry powder for bigger dividends and more buybacks.
Speaking of bigger dividends, Cisco bumped the quarterly payment up by 12% earlier this month. Cisco stock is still a buy anywhere under $35. The 12-month price target remains $45.
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