Cisco price target raised to $64 from $62 at Citi

Citi analyst Atif Malik raised the firm’s price target on Cisco (CSCO) to $64 from $62 and keeps a Buy rating on the shares post the fiscal Q1 report. The shares traded down 3% post results as a “modest beat and raise,” better than expected artificial intelligence orders, and promising trends in core networking orders were offset by only a slightly raised fiscal 2025 growth outlook and an unchanged AI guide, the analyst tells investors in a research note. The firm says the “mixed” results are overshadowed by the likely benefits to Cisco from an expanding AI networking opportunity and improving valuation.