NEW YORK, Dec 26 (Reuters) - Shares in technology bellwether Cisco Systems (CSCO.O) are undervalued and should rise at least a third from current levels, Barron’s said in its latest issue, dated “week of Dec 24.”
The magazine said if Cisco comes close to its long-term revenue growth targets, the stock should trade back at least to its 2007 high of $27 a share.
Barron’s added investors have priced in “too much skepticism” about Cisco’s prospects.
Cisco shares last closed at $19.69. (Reporting by Ben Berkowitz; editing by Gunna Dickson)