Melius Research highlights three reasons to like Cisco at current levels

Melius Research analyst Ben Reitzes reiterates a Buy rating and $79 price target on shares of Cisco (CSCO), highlighting three reasons to like the stock, whose “story may creep up on you quickly in CY25.” The firm cites a series of recent deals with Nvidia (NVDA) that it argues give Cisco “a shot to be on the right side of AI in the enterprise,” as well as a major campus switch refresh in the second half of calendar 2025 that it says “should bode well for a pickup in networking orders.” In addition, the security strategy is “finally taking hold,” which the firm thinks likely helps the multiple. “In short, Cisco is attractively priced and could be in the early innings of rerating,” the analyst tells investors.