(CercleFinance.com) – Cisco shares performed better than their benchmark index, the Dow Jones, on Monday morning, benefiting from an increase in recommendation from Bank of America to buy on the value.
The action of the American networking giant is currently gaining 0.6% while the Dow is only gaining 0.2%.
BofA announced this morning that it had raised its recommendation on the stock to buy and increased its price target from $55 to $60.
In their note, the analysts highlight three potential growth levers in Ethernet switches equipped with AI, but also in cybersecurity with the launch of new products and in the synergies resulting from the acquisition of Splunk.
The research office also mentions a valuation having reached, according to it, support levels, as well as low expectations on the part of the market.
‘While it is true that the next two quarters could remain under pressure, we believe that forecasts for the group have been lowered sufficiently at this stage,’ he concludes.
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