NEW YORK (TheStreet) -- Cisco Systems (CSCO) continued to rise Wednesday after Deustche Bank upgraded the networking company to "buy" from "hold" and increased its price target to $30 from $25 in the wake of Cisco Live.
"A mosaic view from our meetings with the networking IT channel, IT buyers, and senior management at Cisco Live gives us conviction on a stronger than anticipated ramp of Cisco's new platforms in Datacenter Switching, Next Gen Routing and Security, Wireless, and Cloud IT Services - heading into the FY-end Jul Q and into FY15+," the firm wrote in a research note.
The stock was up 0.61% to $24.86 at 3:33 p.m.
Separately, TheStreet Ratings team rates CISCO SYSTEMS INC as a "buy" with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate CISCO SYSTEMS INC (CSCO) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, good cash flow from operations, 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."