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Fly News Breaks for January 10, 2018
CSCO
Jan 10, 2018 | 05:20 EDT
Piper Jaffray analyst James Fish assumed coverage of Cisco Systems with an Overweight rating while raising his firm's price target to $44 from $37. Cisco is executing on its transition towards a software-based business model, which should drive an underappreciated free cash flow story, Fish tells investors in a research note. Further, cash repatriation allows for Cisco to likely repatriate $48B in after-tax cash which will most likely go towards buybacks, and a slightly higher than earnings growth dividend raise, the analyst adds.
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