Cisco Systems Stock Jumps 5.1% to Reach New High

Cisco Systems' stock price increased by 5.1% on Tuesday to $121.74 per share, reaching as high as $121.90. The company's shares changed hands 24,894,104 times during trading, a 5% rise from the average session volume of 23,643,037.

This uptick comes after a number of analysts issued new price targets for Cisco Systems. Evercore increased its target to $150.00 and gave the company an 'outperform' rating, while Wells Fargo & Company boosted its target to $130.00 with an 'overweight' rating. JPMorgan Chase & Co. also raised its target to $96.00.

Despite these positive developments, not all analysts are bullish on Cisco Systems. Wall Street Zen downgraded the stock from a 'buy' rating to a 'hold' rating in a recent report.