UPDATE: Loop Capital Assumes Cisco (CSCO) at Buy

February 14, 2022 7:50 AM EST
Get Alerts CSCO Hot Sheet
Price: $49.70 -0.54%

Rating Summary:
    27 Buy, 26 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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(Updated - February 14, 2022 7:56 AM EST)

Loop Capital analyst Fahad Najem assumes coverage on Cisco (NASDAQ: CSCO) with a Buy rating and a price target of $71.00.

The analyst comments "Back to The Future: The Return of Golden Age of Networking...The Networking Equipment and Optical Component sectors are returning to a "golden age" not seen since the days of the dot-com era. It is becoming clear that networking technology is sine qua non to our digital economy-- the COVID-19 pandemic punctuated this fact. Post COVID-19 pandemic, we see cyclical, secular, and regulatory factors coming together to drive a rising tide of demand – meaningfully above investor expectations—for networking equipment and technology. To put this opportunity into context, the macroeconomic set-up, along with the technology upgrade cycle, is fostering, we think, the best-case demand for the networking equipment sector in over 20 years."

For an analyst ratings summary and ratings history on Cisco click here. For more ratings news on Cisco click here.

Shares of Cisco closed at $53.90 yesterday.

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