Jim Cramer "Liked" Morgan Stanley's Cisco Systems (CSCO) Coverage

We recently published Jim Cramer Discussed These 11 Stocks & The Market’s 3rd Bull Run Anniversary. Cisco Systems Inc. (NASDAQ:CSCO) is one of the stocks Jim Cramer recently discussed.

Computer equipment provider Cisco Systems Inc. (NASDAQ:CSCO) has crossed Jim Cramer’s attention several times this week. Recently, he commented on the firm’s new networking chip announcement and remarked that the launch did not mean that chip designer Broadcom would suffer. Cisco Systems Inc. (NASDAQ:CSCO)’s role in the dotcom bubble, which saw it become the most valuable firm on the market before the crash, has also made it a topic of discussion in the current AI wave. Cramer believes that the firm’s current multiple makes such comparisons unwarranted. In this appearance, along with the valuation, he also discussed a recent Morgan Stanley note about Cisco Systems Inc. (NASDAQ:CSCO). The note had increased the share price target to $77 from $73, which followed a $3 hike in August. Here is what Cramer said:

“I mean look, my charitable trust owns Cisco, okay. Now Cisco is, remember it was a 400 billion, it was right at the top. Well it sold at what, 40 times earnings, it sells at 17.

“[On Morgan Stanley price increase] I liked that.”

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Disclosure: None. This article is originally published at Insider Monkey.