Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, May 12, 2023

Article Excerpt

CISCO SYSTEMS INC., $46.71, Nasdaq symbol CSCO, is a buy. Through the stock, investors tap a global producer of hardware and software that links and manages computer networks. The company now plans to build a new manufacturing facility in India as part of its strategy to diversify its supply chains in Asia. Cisco has not yet said how much it will spend on this project, or when it will begin operating. However, the new plant will help the company tap into growing demand for its routers and switches in India as that country expands its broadband networks. Cisco also expects India could contribute nearly 10% of its revenue (which totalled $53.2 billion in the past 12 months) over the next few years. The company’s earnings in the current fiscal year, ending July 31, 2023, will probably rise 12% to $3.75 a share. The stock trades at just 12.5 times that estimate. Cisco also raised your quarterly dividend by 2.6% with the April 2023 payment, to $0.39…