Cisco Shares Rise as Bernstein Sets Price Target Amid AI Demand

Cisco Systems' CSCO shares rose 0.8% to $108.49 on October 1, following Bernstein's initiation of coverage with a Market Perform rating and a $110 price target.

The analyst's valuation estimate is significantly lower at $74.93, leaving only 1.4% upside to the target.

Cisco's substantial AI demand has been reported, with $9.3 billion in hyperscaler AI infrastructure orders during fiscal 2026, but recognized AI infrastructure revenue accounted for just 6% of total revenue.

The company still needs to turn these commitments into revenue and earnings, making execution a key factor for investors.