After free-falling 40% through the first quarter, data-networking giant Cisco Systems' shares have bounced back smartly. The latest boost: On May 20, Cisco said it won a contract worth as much as $30 million to build a data network connecting China's major banks. That drove the stock up nearly 6%, to 64 3/8. The contract signals new strength for Cisco's long-distance networking gear and a bright future in China, says Amar Senan, an analyst at Volpe Brown Whelan. His 12-month price target: $82 a share.
EDITED BY KELLEY HOLLAND
Updated June 15, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.