Cisco price target raised to $150 from $100 at Rosenblatt

Rosenblatt raised the firm’s price target on Cisco (CSCO) to $150 from $100 and keeps a Buy rating on the shares after the company’s quarterly report showed strong acceleration in Networking, “Cisco’s most important business,” stabilization in Security and under performance from Collaboration and Observability. Even if there were to be further gross margin pressure due to a mix shift to Hyperscale or greater input cost increases, the firm sees levers to protect 34%-plus operating margins, the analyst tells investors.