Cisco Systems (CSCO) shares increased approximately 2% pre-market Monday following an upgrade from Evercore ISI. Evercore elevated the networking giant's rating to "Outperform" from "In Line." The firm substantially raised its price target to $100, up from $80 per share.
Analyst Amit Daryanani cited sustained growth in campus networking markets. Evercore checks suggest a continued refresh cycle for campus solutions through 2026. This cycle is driven by customer upgrades and growing demand for WiFi 7 technology. Evercore believes these factors support high single-digit sales growth. They also support low-teens EPS growth for Cisco over multiple years.
In separate news, Cisco launched its new Cisco 360 Partner Program. The program helps partners assist customers in three key areas. These areas include AI-ready data centers, modern workplaces, and digital resilience.