(CercleFinance.com) – Cisco gains more than 6% in New York, supported by an analysis by Jefferies which reaffirms its ‘buy’ recommendation on the stock with a price target raised from 52 to 54 dollars, the day after the publication by the network technologies group of its results for its fourth quarter 2021-22 and its outlook.
The broker judges this publication positively, ‘particularly in view of investors’ fears about the economic slowdown and potential large declines in the growth in annual rhythm of product orders’.
“The company continues to build a more stable and predictable business, focusing on software and recurring revenue streams. Also, the supply chain environment, at some point, will improve,” adds Jefferies.
Copyright © 2022 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
