Why Cisco Systems (CSCO) Stock Is Up Today

NEW YORK (TheStreet) -- Cisco Systems  (CSCO) ticked upward 1.5% to $22.67 at 12:56 p.m. on Wednesday after the company introduced a new access point product to support Gigabit Wi-Fi.

The 802.11ac-enabled Cisco Aironet 2700 Series Access Point should allow customers to "accelerate their path to Gigabit Wi-Fi," according to the company's statement. The product should aid wireless LAN infrastructure to support the use of multiple mobile devices, apps and data within its area.

The Aironet 2700 will be available in April and starts at $1,095.

"Gigabit Wi-Fi is here to stay. The next generation of wireless technology -- 802.11ac -- is today's hallmark in wireless standards, representing a significant advancement in solving bandwidth issues and providing fast speeds, adding real business value and outcomes," said Sujai Hajela, senior vice president, Enterprise Networking Group at Cisco, in the statement. "As the industry leader in 802.11ac, Cisco is helping customers' transition to this technology, while accelerating our partners' ability to capture new revenue, increase margins and provide new services from the mobility opportunity."

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TheStreet Ratings team rates CISCO SYSTEMS INC as a "buy" with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate CISCO SYSTEMS INC (CSCO) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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