JPMorgan raised the firm’s price target on Cisco to $55 from $53 and keeps a Neutral rating on the shares as part of a fiscal Q4 report. Cisco investors are hoping for early signs of a rebound in networking equipment demand to help deliver upside as well as stronger than expected revenue guidance, the analyst tells investors in a research note. However, the firm says it is yet to see material signs of a recovery in customer demand and yet to see material acceleration in Security growth, which is pivotal to the company’s long-term revenue growth guide.
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