Truist initiated coverage of Cisco (CSCO) with a Buy rating and $94 price target Networking and Hardware represents the group most directly linked to elevated AI and cloud investment at a time when U.S. hyperscaler capex alone is forecasted to total about $700B in 2026, the analyst tells investors while rolling out coverage of the group. The firm, which favors a more selective approach to the stocks considering relatively higher valuations, names Arista Networks (ANET), Cisco, HPE (HPE) and Motorola Solutions (MSI) among its favorites in the group.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CSCO:
- The Week That Was, The Week Ahead: Macro and Markets, Mar. 29
- Quantum Computing News: Google and Cisco Lead Shift Toward Quantum Networks, Security, and Real World Scale
- DA Davidson analysts hold an analyst/industry conference call
- IPO Prospect Databricks Buys Two Startups to Power New AI Security Platform
- SCHD ETF Slips Ahead of Portfolio Reshuffle — UNH, QCOM In; HAL, VLO Out