Cisco could see a nearly 25% post-earnings boost over the next quarter, pro trader says

(PRO Views are exclusive to PRO subscribers, giving them insight on the news of the day direct from a real investing pro. See the full discussion above.) NYSE insider Jay Woods is keeping a special eye on Cisco this week, as he sees the potential for the internet infrastructure company to rise to $110 or $120 over the next quarter as “realistic upside targets.” Shares of Cisco closed at $96.57 on Friday. A price level of $120 would imply a rally of more than 24%. The company reports earnings after Wednesday’s closing bell. “Cisco — a juggernaut back in the 90s, but hasn’t had that parabolic rise like it used to. Will it continue to rally into this strong tape? Right now it’s up 25% year to date, but last quarter they missed. Last quarter it was down 12% after a strong quarter, but people [were] concerned about the margins when it came to the memory spend,” said Woods, chief market strategist at Freedom Capital Markets. He added that the $90 level would provide “minor support” for the name, while $82 would look like “major support.” “If you’ve been looking to get into this name, $82 if it does overreact — like it did last quarter — a great place to enter to the upside,” he said. (Watch full video above.) Woods also touches on the following in the exclusive video: Another key stock with earnings this week: “nuclear favorite” Oklo . The trader remarks that if the stock can eclipse its 200-day moving average on a rally, it may have room to run. Why strong CPI and PPI data coming on the heels of April’s jobs report could “keep the market going on all cylinders.” (This weekly Monday video is exclusively for CNBC PRO subscribers.)