Source: Unsplash
Goldman Sachs analyst Rod Hall upgraded Cisco Systems (CSCO) to Buy from Neutral with a price target of $59, up from $50.
The prospect of increased enterprise spending on-campus networking to enable a video conferencing heavy return to offices "presents an opportunity for fundamental upside," Hall tells investors in a research note.
The analyst expects a better IT spending environment by the middle of this year and notes that Cisco's own order rate also suggests recovery with total orders up 1% year-over-year after having declined for five straight quarters.
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