Cisco Systems Analysts Raise Forecasts On ‘Meaningful Traction’ Across 3 AI Investments
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Shares of Cisco Systems Inc (NASDAQ:CSCO) declined in early trading on Thursday, even after the company reported upbeat fiscal first-quarter earnings.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
- Goldman Sachs analyst Michael Ng maintained a Neutral, while raising the price target higher from $51 to $56.
- Piper Sandler analyst James Fish reiterated a Neutral, while lifting the price target from $52 to $57.
- Morgan Stanley analyst Meta Marshall reaffirmed an Overweight rating, while raising the price target from $58 to $62.
Check out other analyst stock ratings.
Goldman Sachs: Cisco Systemsreported its fiscal first-quarter earnings at 91 cents per share, higher than consensus of 87 cents per share, with the beat being driven by better-than-expected gross margins and in-line revenue of $13.8 billion, Ng said in a note. Order growth ex-Splunk accelerated to 9% year-on-year, …
Full story available on Benzinga.com
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