Cisco Systems Inc (CSCO)

[DiscoverGold]

Why Old-School Legacy Tech Stocks May Be Big 2020 Winners
By: 24/7 Wall St. | December 13, 2019

Some of the biggest moves in technology this year have been from the new giants in the industry. Apple Inc. (NASDAQ: AAPL) has almost doubled, and there were big moves in the software as a service (SaaS) and cloud computing stocks. So the real question for investors is where the good values are after such a red-hot year.

The answer may lie with the old-school, “legacy” technology stocks, as some of them, while solid this year, certainly haven’t doubled in price. We screened the Merrill Lynch technology research universe for legacy technology leaders that have solid upside potential for 2020. We found five that look like great additions to aggressive growth portfolios, and are all rated Buy at Merrill Lynch.

Cisco

Cybersecurity is a growing silo for this long-time networking mega-cap tech leader. Cisco Systems Inc. (NASDAQ: CSCO) designs, manufactures and sells internet protocol (IP) based networking products and services related to the communications and information technology industry worldwide.

It provides switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points and servers, as well as next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice and video applications.

Cisco cybersecurity products give clients the scope, scale and capabilities to keep up with the complexity and volume of threats. Putting security above everything helps corporations innovate while keeping their assets safe.

Cisco shareholders receive a 3.10% dividend. Merrill Lynch has a target price of $56, while the posted consensus target was last seen at $55.58. The stock closed at $45.67 a share on Thursday.

Read Full Story »»»

DiscoverGold