Bank of America raises CSCO target citing robust fiscal Q3 results and sustained demand for optical networking products.
Bank of America increased its price target for Cisco Systems (NASDAQ:CSCO) to $135 from $114, maintaining a Buy rating. The adjustment follows Cisco’s fiscal third-quarter results, which highlighted strong demand for Acacia optical networking solutions, reinforcing a positive outlook for the sector.
Earlier this month, HSBC upgraded CSCO to Buy and raised its target to $137 from $77, citing a modest Q3 beat and growing AI infrastructure momentum. Management projected FY27 AI revenue of at least $6B, reflecting approximately 50% year-over-year growth, which bolstered earnings visibility.
Cisco designs and sells internet infrastructure technologies, integrating networking, security, collaboration, and cloud services. The company’s focus on AI-driven growth has drawn investor attention amid broader market shifts.