Cisco Systems, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Atif Malik from Citi maintained a Buy rating on the stock and has a $80.00 price target.
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Atif Malik has given his Buy rating due to a combination of factors including Cisco’s strategic partnerships and long-term growth potential. While there might be limited short-term gains in networking and security sales, the collaboration with G42 and AMD for AI infrastructure in the UAE is expected to be a significant positive factor.
In the long run, Cisco is well-positioned to benefit from the campus refresh cycle and the increasing demand for enterprise and sovereign AI solutions. Despite some near-term challenges, the company’s projected revenue and earnings align with market expectations, supporting a positive outlook.
In another report released on November 3, Raymond James also upgraded the stock to a Buy with a $0.00 price target.