Cisco price target raised to $56 from $49 at Barclays

Barclays raised the firm’s price target on Cisco (CSCO) to $56 from $49 and keeps an Equal Weight rating on the shares. The company delivered in-line fiscal Q1 sales results as margin outperformance drove the earnings beat, the analyst tells investors in a research note. The firm says it would have expected orders excluding Splunk to grow more, though notes the overall business “seems to have stabilized.” Cisco’s growth for fiscal 2025 seems limited even with an easy compare, contends Barclays.