Home Stock Citi is bullish on Cisco into subsequent week’s earnings report By Investing.com

Citi is bullish on Cisco into subsequent week’s earnings report By Investing.com

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Citi is bullish on Cisco into subsequent week’s earnings report By Investing.com

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Citi is bullish on Cisco (CSCO) into subsequent week’s earnings report

Citi analysts have opened a optimistic catalyst watch on Cisco Programs (NASDAQ:) as they count on the IT big to outperform friends Arista Networks (NYSE:) and Juniper (NYSE:).

They imagine that sturdy Enterprise demand will probably gas upside to outcomes for Cisco’s July quarter. Cisco is because of report on Wednesday, August 16.

“Cisco ought to profit from its heavy Enterprise publicity (Enterprise and Industrial 50%+ of gross sales) the place friends noticed upside. Cisco’s whole product gross sales excollaboration/Web present respectable correlation with Juniper’s enterprise gross sales (R2 ~0.4),” the analysts stated in a consumer notice.

“On safety, learn from Fortinet’s Jun-Q outcomes (R2 ~0.8) implies 4% Y/Y progress. Furthermore, with low Cloud SP publicity (mid-single digits), Cisco will probably keep away from important draw back from the shift from conventional networking spend to AI investments vs friends, in our view.”

Regardless of getting extra bullish within the close to time period, the analysts proceed to fee CSCO inventory with a Impartial score and a $54 per share worth goal, which suggests an upside potential of simply 1%.

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