Cisco (CSCO) Gets Higher Price Target From BofA Following Q3 Results

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On May 26, BofA raised the firm’s terms people connected Cisco Systems, Inc. (NASDAQ:CSCO) to $135 from $114. It reiterated a Buy standing connected the shares. The expert said Cisco’s caller fiscal Q3 results, on with management’s comments astir continued beardown request for Acacia, enactment a affirmative presumption connected the underlying request situation for optical networking.

On May 15, HSBC upgraded CSCO to Buy from Hold. It raised its terms people connected the banal to $137 from $77. As antecedently reported, the steadfast said the institution delivered a “modest” bushed successful fiscal Q3, though caller AI orders shifted the speech astir aboriginal growth. Management expects FY27 AI gross to scope astatine slightest $6B, which implies astir 50% year-over-year growth, the expert told investors. HSBC said stronger momentum successful AI infrastructure and improved net visibility were cardinal reasons down the standing upgrade and higher terms target.

Cisco Systems, Inc. (NASDAQ:CSCO) designs and sells a scope of technologies that powerfulness the internet. The institution is integrating its merchandise portfolios crossed networking, security, collaboration, applications, and unreality services.

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