Cisco announces $1 billion restructuring plan to focus on AI and security
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Truist on Cisco (CSCO): 'Scale matters, AI momentum shining'
May 14, 2026 4:27 AM EDTTruist Securities analyst Matthew Niknam reiterated a Buy rating and $94.00 price target on Cisco (NASDAQ: CSCO)
The analyst comments "Bottom line, core Networking results were meaningfully ahead of expectations with AI strength leading the way, setting CSCO up for ~15% yoy growth in F4Q (vs. +12% this quarter), and initial color indicating prospects for high single digit growth (+8%) in FY27E. This, combined with commentary indicating gross margins have stabilized (around the ~66% mark, with CSCO flexing scale benefits) and optimism around ongoing operating leverage give us enhanced confidence in the... More
