Tigress Financial raised the firm’s price target on Cisco (CSCO) to $76 from $73 and keeps a Buy rating on the shares. Cisco will continue to benefit from increasing demand for smart AI-driven high-speed networks bandwidth and security, while the acquisition of software developer Splunk (SPLK) will further accelerates its security and AI capabilities, the analyst tells investors.
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Read More on CSCO:
- Jefferies likes Cisco’s pending acquisition of Splunk
- Splunk downgraded to Sector Weight from Overweight at KeyBanc
- Barclays ‘mixed’ on Cisco acquisition of Splunk
- Needham says Splunk will not solve growth challenges at Cisco
- Splunk downgraded to Sector Perform from Outperform at RBC Capital
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