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Cisco Systems (CSCO) Inches Ahead After Barclays Begins Coverage

NEW YORK (TheStreet) -- Cisco Systems (CSCO - Get Report) shares are advancing 0.72% to $28.02 on Thursday after analysts at Barclays initiated coverage of the IT company with an "overweight" rating and a $32 price target.

Analysts said the stock is their "supertanker favorite," praising its growth strategy.

In addition, the company's capital allocation is attractive for industrial-focused investors.

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Given the portfolio expansion, analysts decided to stay bullish, according to the firm's note.

Based in San Jose, CA, Cisco Systems designs, manufactures, and sells Internet Protocol (IP) based networking products and services related to the communications and information technology industry worldwide.

Separately, TheStreet Ratings team rates CISCO SYSTEMS INC as a Buy with a ratings score of A-...