Cisco Initiated at Buy by Truist on Networking and AI Tailwinds

Truist Securities initiated coverage of Cisco Systems (NASDAQ: CSCO) with a Buy rating and a $94 price target, citing multiple growth drivers across its business. The firm’s positive outlook is based on three key factors. First, Cisco’s core networking segment is benefiting from a cyclical upturn driven by increased investment in AI infrastructure and a multi-year refresh of campus networking products. Truist expects mid-teens product growth in the current fiscal year, with momentum extending into fiscal 20 ...