Cisco Shares Rise on Bernstein Coverage, but Valuation Raises Concerns

Cisco Systems' shares rose by about 0.8% to $108.49 on October 1, after Bernstein initiated coverage with a Market Perform rating and a $110 price target.

The valuation picture presents another hurdle for investors, as Cisco's shares are currently trading at 44.79% above the displayed GF Value estimate of $74.93.

Cisco booked $9.3 billion in hyperscaler AI infrastructure orders during fiscal 2026, but recognized AI infrastructure revenue accounted for roughly 6% of total revenue, highlighting a gap between orders and delivery.