Goldman Sachs raised the firm’s price target on Cisco (CSCO) to $67 from $63 and keeps a Neutral rating on the shares. The company announced enterprise oriented networking solutions which should strengthen its longer-term position within campus networking refresh opportunities related to Wi-Fi 7 and AI-driven upgrades, the analyst tells investors in a research note. The firm adds however that while these new solutions should better position Cisco within the ongoing campus networking refresh cycle, these new products may take time to ramp and see customer adoption.
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