Cisco price target raised to $53 from $51 at Barclays

Barclays analyst Tim Long raised the firm’s price target on Cisco to $53 from $51 and keeps an Equal Weight rating on the shares. The company beat fiscal Q4 estimates like other enterprise networking vendors, the analyst tells investors in a research note. Even though Q4 orders were above expectations, they were not enough to change the view of flat-to-slightly up 2024 revenues, says the firm.