Cisco Systems (CSCO.US) dropped over 2.0% on Thursday after J.P. Morgan Securities downgraded the networking equipment maker's rating to “neutral” from “overweight”. Analyst Samik Chatterjee lowered stock price target to $51 from $62 as he is taking "cautious view" on near-term order growth as he expects a slowdown in business spending amid worsening macroeconomic outlook.
Cisco's (CSCO.US) stock has dropped nearly 35.0% since the beginning of the year. Currently price is approaching major support at $41.00, which managed to fend off bears twice. Source: xStation5
