Citi analysts initiated a positive catalyst watch on Cisco Systems (NASDAQ:CSCO), expecting the company to perform better than its counterparts, Arista Networks and Juniper.
The analysts’ perspective is grounded in the belief that robust demand from enterprises will contribute to favorable results for Cisco in the upcoming July quarter. Cisco’s earnings announcement is scheduled for Wednesday, August 16.
According to the analysts, Cisco is likely to benefit due to its substantial exposure to the enterprise sector, with enterprise and commercial segments accounting for over 50% of its sales. Despite the increasing optimism in the short term, Citi’s rating for Cisco stock remains Neutral with a price target of $54 per share.