Technology firm
Cisco
Systems will probably outperform peers
Arista
(ticker: ANET) and Juniper (JNPR) when it reports results,
Citi
says.
Analysts led by Atif Malik opened a positive catalyst watch on Cisco (CSCO) ahead of its Aug. 16 earnings report. The shares are up 14% over the past three months and climbed 0.3% to $53.54 Friday morning.
The maker of networking equipment could indirectly get a boost from the hype surrounding advances in artificial intelligence. That excitement pushed the value of chip maker
Nvidia
above $1 trillion earlier this year.
“Cisco should benefit from its heavy Enterprise exposure where peers saw upside,” Malik said in a note. Because it has less exposure to cloud computing than others, “Cisco will likely avoid significant downside from the shift from traditional networking spend to AI investments versus peers.”
Citi has a price target of $54 on Cisco and a Neutral rating.
Write to Brian Swint at [email protected]
Read the full article here
