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Cisco (CSCO) PT Raised to $76 at Tigress Financial Partners

September 22, 2023 8:23 AM EDT

Tigress Financial Partners analyst Ivan Feinseth raised the price target on Cisco (NASDAQ: CSCO) to $76.00 while maintaining a Buy rating.

The analyst comments "

We reiterate our Buy rating on CSCO and increase our 12-month target price to $76 as CSCO will continue to benefit from increasing demand for smart AI-driven high-speed networks bandwidth and security and the recently announced acquisition of software developer Splunk (SPLK-US, Non-rated) further accelerates its security and AI capabilities, increases the ongoing growth of its services revenue and adds an additional upside catalyst. Yesterday, CSCO announced the acquisition of Splunk (SPLK-US,... More