Cisco price target raised to $63 from $60 at Evercore ISI

Evercore ISI raised the firm’s price target on Cisco to $63 from $60 and keeps an Outperform rating on the shares. Cisco reported notable upside to October quarter results and its FY24 guidance calls for 1% sales growth and in-line EPS, the analyst tells investors in a research note. Cisco committed to showing operating leverage and sustaining a more consistent buyback going forward, the firm notes.