UPDATE: Wolfe Research Upgrades Cisco (CSCO) to Outperform

April 16, 2021 6:26 AM EDT
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Price: $52.55 +1.84%

Rating Summary:
    33 Buy, 21 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 26 | Down: 9 | New: 37
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(Updated - April 16, 2021 6:26 AM EDT)

Wolfe Research analyst Jeff Kvaal upgraded Cisco (NASDAQ: CSCO) from Peerperform to Outperform with a price target of $63.00 (from $48.00).

The analyst comments "Strong IT spending should prove a tailwind to Cisco estimates through FY22. Cisco’s improving structural narrative – a rising software mix and an improving hyperscale play – also merit multiple expansion. Our higher estimates and multiple translate to a $63 target and an Outperform rating."

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 $51.90 yesterday.

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