Cisco price target raised to $78 from $76 at Tigress Financial

Tigress Financial analyst Ivan Feinseth raised the firm’s price target on Cisco to $78 from $76 and keeps a Buy rating on the shares. The company will continue to benefit from the increasing demand for smart artificial intelligence-driven high-speed network bandwidth and security, the analyst tells investors in a research note. The firm says Cisco’s ongoing business optimization and transition to its subscription-driven revenue model will drive an increasing acceleration in long-term shareholder value creation.