Piper Sandler Reiterates Neutral Rating on Cisco (CSCO)
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August 16, 2024 8:37 AM EDT
Cisco Systems (NASDAQ: CSCO) received upgrades from both HSBC and New Street Research in notes on Friday, with analysts citing improving order flows, normalized inventories, and a strategic focus on high-growth areas as key reasons for their positive outlook.
HSBC upgraded Cisco to a Buy rating, raising its target price to $58 from $46.
The bank praised Cisco's "politically... More
August 16, 2024 6:40 AM EDT
HSBC analyst Stephen Bersey upgraded Cisco (NASDAQ: CSCO) from Hold to Buy with a price target of $58.00 (from $46.00).
The analyst comments "Expect sharp growth: We expect Ciscos non-GAAP EPS to rise at a CAGR of 11.6% over CY24-27e. For FY25e, we expect non-GAAP EPS of USD3.86, ahead of company guidance of USD3.55 and consensus of... More
August 15, 2024 9:38 AM EDT
BofA Securities analyst Tal Liani reiterated a Buy rating and $60.00 price target on Cisco (NASDAQ: CSCO).
The analyst comments "4Q24 revenue growth of -10.3% YoY was better than Street's -11%, supported by better-than-expected product revenue growth. Order trends improved, with total... More
