Morgan Stanley recently named Cisco Systems Inc CSCO a top second half idea for 2021. The analyst firm has an Outperform rating and a $57 price target on the stock.
Market Rebellion co-founder Pete Najarian said he loves the stock Tuesday on CNBC's "Fast Money Halftime Report."
It's a very stable company with good management, but it has underperformed others in the sector, Najarian said. "I create dividend yields" by selling calls against the stock on a weekly or monthly basis, he added.
Related Link: Analyzing Cisco Systems's Unusual Options Activity
The stock is inexpensive based on its price-to-earnings ratio, Najarian said, adding that he isn't nervous about the stock's downside potential. Najarian said the stock to his portfolio about a month ago.
Price Action: Cisco has traded as high as $55.35 and as low as $35.28 over a 52-week period.
At last check Tuesday, the stock was down 1.80% at $52.57.
Photo: DennisM2 from Flickr.
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