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Cisco Shares Give Up Gains After Investor Day Leaves Wall Street Analysts Divided

September 16, 2021 10:47 am
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Cisco Shares Give Up Gains After Investor Day Leaves Wall Street Analysts Divided
  • Cisco Systems Inc's (NASDAQ:CSCOInvestor Day presentations had the Wall Street analysts divided on opinions. Credit Suisse analyst Sami Badri upgraded to Outperform from Neutral with a price target of $74, up from $56, implying a 28.6% upside, following updated TAMs and new guidance through FY25. 
  • JPMorgan analyst Samik Chatterjee raised the PT to $70 from $67, indicating a 21.6% upside, and maintained an Overweight adding it to JPMorgan's Analyst Focus List. 
  • Baird analyst Jonathan Ruykhaver raised the PT to $62 from $58, suggesting a 7.7% upside, and affirmed a Neutral.
  • Raymond James analyst Simon Leopold raised the PT to $64 from $57, implying an 11.2% upside, and reiterated an Outperform.
  • Jefferies analyst George Notter raised the PT to $65 from $63, indicating a 12.9% upside, and kept a Buy.
  • Piper Sandler analyst James Fish raised the PT to $57 from $53, indicating priced at the current level, and reiterated a Neutral after being left with "more questions than answers" regarding Cisco's subscription and software transition. 
  • He believes the stock "reflects most of the upside already" and prefers other Infrastructure opportunities.
  • Morgan Stanley analyst Meta Marshall maintained an Equal Weight with a $59 PT, suggesting priced at the current level, after factoring in the costs that will limit the company's earnings leverage.
  • Price Action: CSCO shares traded lower by 0.50% at $57.28 after giving up all the premarket gains on the last check Thursday.

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