Cisco price target raised to $71 from $68 at Citi

Citi analyst Atif Malik raised the firm’s price target on Cisco (CSCO) to $71 from $68 and keeps a Buy rating on the shares. The stock rallied post a “modest beat and raise” quarter, as strength in core networking drove a raised fiscal 2025 growth outlook and management lowered gross margin expectations to reflect the full impact of tariffs, the analyst tells investors in a research note. The firm says the gross margin outlook assumes no mitigation efforts, which is a “highly unlikely outcome.” It believes Cicso’s growing artificial intelligence momentum merits a higher multiple.