Cisco Gets Several Price Target Increases After Strong Q4 Earnings, But This Analyst Disagrees

Cisco Gets Several Price Target Increases After Strong Q4 Earnings, But This Analyst Disagrees

Cisco Systems Inc CSCO reported better-than-expected results for its fourth quarter and issued strong guidance.

Cisco said it sees fiscal-year 2023 revenue growth to be between 4% and 6%. Fiscal 2023 adjusted earnings are expected to be between $3.49 and $3.56 per share versus average analyst estimates of $3.35 per share.

Cisco shares climbed 5.1% to $49.02 in the pre-market trading session.

Several analysts made changes to their price targets on Cisco today.

  • Rosenblatt boosted price target on the stock from $48 to $53. However, Rosenblatt analyst Mike Genovese maintained Cisco with a Neutral.
  • Credit Suisse raised Cisco’s price target from $60 to $65. Credit Suisse analyst Sami Badri maintained an Outperform rating on the stock.
  • Barclays increased the price target on the stock from $55 to $56. However, Barclays analyst Tim Long maintained Cisco with an Overweight.
  • Goldman Sachs boosted the price target on Cisco from $45 to $50. Goldman Sachs analyst Rod Hall maintained a Neutral rating on the stock.

However, this analyst cut its price target on Cisco.

  • Raymond James cut the price target on the stock from $63 to $59. However, Raymond James analyst Simon Leopold maintained an Outperform rating on the stock.

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Posted In: PT ChangesEarningsNewsPrice TargetPre-Market OutlookMarketsAnalyst Ratings