On July 17, Cisco rose 3.21% in regular trading, trading at $113.12/share, with turnover of $12.34 billion, reversing a two-day consecutive decline.
On the news front, JPMorgan significantly raised Cisco's target price from $120 to $145 on July 16, maintaining its Overweight rating, representing a 21% upward revision. According to FactSet data, Cisco currently holds an average analyst rating of Overweight with a mean target price of $132.40. Bank of America had previously raised its target price to $150 in early June, while Morgan Stanley adjusted to $130, reflecting broad institutional optimism toward Cisco's medium-to-long-term prospects.
The stock had come under pressure in recent sessions, falling 5.26% and 1.89% on July 15 and 16 respectively, driven by market concerns over intensifying competition in AI data center high-performance networking from rivals including Arista Networks and NVIDIA. JPMorgan's substantial target price upgrade signals confidence that Cisco's AI networking positioning and 800G optical module market leadership can offset competitive headwinds.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments