Cisco's stock price plummeted by 4.52% on September 22nd to an intraday low of $104.48, before closing at $106.41.
This decline was largely attributed to Piper Sandler lowering their price target for Cisco from $132 to $125, while maintaining a 'Neutral' rating.
The analyst's downgrade reinforced market concerns over Cisco's short-term upside potential and the growth rate of the networking equipment industry.
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