Cisco up after UBS raises PT

Shares of communications equipment maker Cisco CSCO.O up 1.6% at $74.24

Brokerage UBS raises PT for CSCO to $88 from $74

UBS expects FY26 revenue growth to exceed the 4% to 6% guide with continued strong growth in FY27, driven by AI strength as the company has secured over $2bln in AI orders from webscalers while closing in on $1bln in Enterprise/Sovereign related orders

Additionally, CSCO launches a new computing platform "Cisco Unified Edge," which will run AI workloads at local entities such as retail stores, factory floors and healthcare facilities

Up to last close, stock has risen ~24% this year