We recently published a list of 10 Stocks That Received Analyst Approval This Week. In this article, we are going to take a look at where Cisco Systems Inc. (NASDAQ:CSCO) stands against other stocks that received analyst approval this week.
The US market performance in the last week was quite bullish, with the S&P, DOW, and NASDAQ boasting weekly gains of 3.71%, 3.73%, and 3.84% respectively. The week marked the last full week of the outgoing Democratic government, with Donald Trump set to be sworn in early next week.
Just like the last time he became President, Donald Trump is set to make some drastic changes once he takes over. His energy policy and stance on crypto will continue to be of focus for most traders. During the outgoing week, a lot of companies received the backing of Wall Street analysts, among them quite a few energy and automobile companies.
We looked at a few of those companies that received a boost from analysts this week. To come up with the list of 10 stocks that received analyst approval this week, we only considered companies with a market cap of at least $1 billion.
Cisco Systems Inc. (NASDAQ:CSCO)
Cisco Systems Inc. is a multinational company that sells, manufactures, and designs internet protocol-based networking and other telecommunication products. Citi’s analysts are optimistic about the company’s short-term prospects and have added it to their 30-day Catalyst Watch list.
The main reason for this short-term optimism is the return to growth of the campus switching market. The said networking and equipment market normalized and returned to growth in the fourth quarter of 2024, which should be reflected in the upcoming earnings report. The campus switching market is about 20% of the company’s total sales, so growth here will have a significant impact on the company’s topline.
The company’s share price performance was quite attractive in the past month. There was an upward trend with a 3.5% gain in the stock’s price in the last 5 trading days. The company’s profile and potential for growth make it a worthy consideration for investors.
Cisco Systems Inc. is not on our latest list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 60 hedge fund portfolios held CSCO at the end of the third quarter which was 61 in the previous quarter.
Overall, CSCO ranks 1st on our list of received analyst approval this week. While we acknowledge the potential of CSCO as a leading AI investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as CSCO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.