Cisco (CSCO) PT Raised to $49 at KeyBanc on 2Q18 Report; 'Broad Demand for Infrastructure Platforms...Catalyst & Tax Update Highlight Strong 2Q'
KeyBanc raised its price target on Cisco (NASDAQ: CSCO) to $49.00 (from $43.00) while maintaining a Overweight rating, following the company's 2018 second quarter earnings report.
Analyst Alex Kurtz notes a positive outlook on the shares, as CSCO reported 2018 second quarter earnings per share and revenue results above consensus driven by ongoing transition to a recurring software model and strong commercial order rates fueled by Catalyst 900 refresh cycle.