Major Ratings | Citi: Raises Cisco target price to $112, reiterates "Buy" rating

```htmlGelonghui May 15｜Citi released a research report stating that Cisco's performance for the third fiscal quarter ending April 25 exceeded expectations, benefiting from increased demand, with total product orders rising 35% year-on-year. Cisco raised its artificial intelligence order forecast for fiscal year 2026 from $5 billion to $9 billion, and the related income forecast was also increased from $3 billion to $4 billion. The bank raised Cisco's earnings per share forecasts for fiscal years 2026 through 2028 by 3%, 7%, and 8%, respectively, and raised its target price from $90 to $112 to reflect the growing backlog of artificial intelligence orders, maintaining its “buy” rating.```