Cisco price target raised to $68 from $62 at Morgan Stanley

Morgan Stanley analyst Meta Marshall raised the firm’s price target on Cisco (CSCO) to $68 from $62 and keeps an Overweight rating on the shares. After a 2024 where enterprise names were largely working through inventory digestion or more muted spend environments, the group enters 2025 with healthier budgets, inventory positions and valuations, says the analyst, who thinks that enterprise names like Nutanix (NTNX), the analyst’s new “Top Pick” among the group, as well as Cisco and HP Enterprise (HPE), present “opportunities for outsized growth.”