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Cisco Systems (NASDAQ:CSCO) Rating Increased to Strong-Buy at Truist Financial
Truist Financial upgraded Cisco Systems (NASDAQ:CSCO) to a “strong-buy” rating, although the analyst consensus remains a “Moderate Buy” with an average price target of $89.76. Cisco recently surpassed quarterly earnings estimates, reporting EPS of $1.04 and revenue of $15.35 billion, a 9.7% year-over-year increase. Despite solid financial results, the stock has faced some negative sentiment due to insider selling, security headlines, and geopolitical tensions in the Middle East.