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Shares of Cisco Systems Inc. (NASDAQ:CSCO) climbed on Monday, with its rally expected to carry through year-end as the company prepares to announce Q1 earnings on Wednesday.
Despite the company’s shares adding 28% since mid-August, versus 10% gains in the S&P 500, the stock has “further headroom for upside in the medium term,” according to JPMorgan.
Analyst Samik Chatterjee upgraded the rating for Cisco Systems from Neutral to Overweight, while raising the price target from $55 to $66.
The Cisco Systems Thesis: Expectations of a recovery in the Networking market in 2025 are supported by the recent earnings releases by Juniper Networks, Inc. (NYSE:JNPR) …
Full story available on Benzinga.com
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