Cisco hasn't been this cheap in 10 years so time to buy, Morgan Stanley says

Cisco's Chairman and CEO Chuck Robbins speaks to participants during the Viva Technologie show at Parc des Expositions Porte de Versailles in Paris on May 24, 2018.
Chesnot | Getty Images

(This story is for CNBC Pro subscribers only). 

Shares of information technology giant Cisco are as cheap relative to the rest of the market as they've been over the past decade and investors should take advantage,