Cisco price target raised to $52 from $50 at Piper Sandler

Piper Sandler analyst James Fish raised the firm’s price target on Cisco (CSCO) to $52 from $50 and keeps a Neutral rating on the shares. The firm’s estimates do not include the pending Splunk (SPLK) acquisition. Piper also notes that it continues to prefer more earnings resilient names in the space with reasonable valuations and catalysts within Infrastructure.