Tigress Financial initiates coverage on Cisco with buy rating, sees nearly 20% upside
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Tigress Financial initiated coverage on Cisco (NASDAQ:CSCO) with a buy rating, as the investment firm sees the Chuck Robbins-led company benefiting from an increase in enterprise IT spending and innovation.
Analyst Ivan Feinseth slapped a $73 price target on Cisco (CSCO), implying a 20% increase from current levels, as he believes the firm is "well-positioned" to benefit as networks around the world are upgraded and enterprise connectivity, security and edge computing continue to see growth.

The analyst notes that Cisco (CSCO) recently reported first-quarter results that showed revenue rose 8% year-over-year to $12.9 billion, aided by 11% growth in product revenue
growth.
Based in San Jose, California, Cisco (CSCO) shares were little changed in early Friday trading.
Cisco (CSCO) also disclosed that it closed its acquisition of Epsagon, an observability company, and Replex GmbH.
"[Cisco] is well-positioned to benefit from increased IT enterprise spending to upgrade networks, enterprise connectivity, security, and edge computingâs ongoing growth," Feinseth added. "An expected acceleration in IT spending focused on network speed and security along with videoconferencing and remote connecting capabilities will continue as employees return to work and continue to work remotely."
The analyst also highlighted the company's ability to enhance shareholder returns with dividend increases and its ongoing buyback program.
On Wednesday, Cisco (CSCO), along with Amazon (NASDAQ:AMZN) and Lockheed Martin (NYSE:LMT), won contracts to send voice, AI and tablet-based video technologies to the Moon.