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Cisco: Jefferies keeps 'buy' rating, ups target

( - Jefferies is keeping its "buy" rating on Cisco, raising its target price from 52 to 54 dollars, the day after the network technology giant published its results for its fourth quarter 2021-22, as well as its forecasts.

The broker views this publication positively, e"particularly in light of investor fears about a slowing economy and big potential declines in Y/Y product order growth".

"The organisation continues to build a more stable, predictable business as they emphasise software and recurring revenue streams. Further, the supply chain environment, at some point, will improve," Jefferies adds.

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