Cisco Stock Downgraded on Valuation Concerns

Core Viewpoint - Evercore ISI downgraded Cisco Systems Inc stock to "in line" from "outperform," indicating that any potential upside is already priced in [1] Group 1: Analyst Ratings and Price Targets - Of the 27 analysts covering Cisco, 18 maintain a "buy" or better rating, suggesting potential for further downgrades [2] - The 12-month consensus target price for Cisco is $72.17, representing a 6.3% premium to current trading levels [2] Group 2: Stock Performance - Cisco shares are experiencing their worst day since June 13, currently trading at $67.81, down 1.3% [1][2] - Despite the recent decline, Cisco's stock is not far from its 24-year high of $69.78 reached on June 30, and a familiar support level may prevent further downside [2] Group 3: Options Market Sentiment - The 50-day call/put volume ratio for Cisco is 4.71, indicating that options traders are significantly more bullish than usual, with this ratio higher than 92% of readings from the past year [3]