Cisco likely to see increased demand from AI networking: analysts
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- Cisco (NASDAQ:CSCO) is likely to see continued benefits as artificial intelligence increases demand for high-speed network bandwidth and security, research firm Tigress Financial said.
- The research firm reiterated its Buy rating on the Chuck Robbins-led firm and boosted its price target to $78, which implies a 45% return from current levels, when accounting for dividends.
- “CSCO’s ongoing shift to smart AI-driven networks and increased cybersecurity integration will reverse the recent decline in revenues and drive a reacceleration in Business Performance trends,” the firm wrote in a note to clients. “CSCO’s ongoing shift to smart AI-driven networks and increased cybersecurity integration will drive new growth opportunities, including data center connectivity and security, as well as the ability to integrate AI to improve and optimize its entire product ecosystem.”