Cisco stock hits record high as AI-driven growth fuels investor confidence
Cisco saw its shares climb to a record high on Friday, closing at $96.57 after a 4.8% gain. The surge followed strong revenue growth and positive analyst forecasts, with firms like Evercore ISI and UBS highlighting the company’s expanding AI-driven business and solid financial performance.
The stock hit an all-time intraday peak of $97.02, reflecting investor confidence. Traders now expect a potential 5.8% price swing based on options market movements. Cisco’s market capitalisation currently stands at $381.44 billion.
Evercore ISI raised its price target for Cisco to $110, keeping an Outperform rating. The firm pointed to growing AI-related revenue as a key driver. UBS also backed the company, citing strong data centre spending trends and predicting revenue of $15.4 billion to $15.6 billion—matching Cisco’s upper guidance range. Cisco recently reported a 9.7% revenue increase in its latest quarter. The company also lifted its quarterly dividend to $0.42 per share, reinforcing its financial strength.
Analysts remain optimistic about Cisco’s future, with AI expansion and robust capital spending trends supporting growth. The stock’s recent rally and dividend increase signal continued investor trust in the company’s long-term prospects.
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