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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