Cisco price target raised to $55 from $54 at Citi

Citi raised the firm’s price target on Cisco to $55 from $54 and keeps a Neutral rating on the shares post the “beat and raise” quarter. Cisco talked about gaining artificial intelligence share in 800G ethernet which was encouraging, but Citi awaits third party data verification to get more excited about the share gains, the analyst tells investors in a research note. The firm awaits market share gains in switch and security to turn more constructive on the shares.