Exane BNP Paribas upgraded Cisco to Neutral from Underperform with a $50 price target. The analyst says consensus estimate risk is now small following the closing of Splunk deal. The firm sees the acquisition as 1% and 3% accretive in fiscal 2025 and 2026, respectively. However, the analyst is not turning more positive on Cisco shares at this stage citing limited demand catalysts from the company’s core business.
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