HSBC Lowers Cisco Systems Rating, Cuts Price Target by 13% to $120

HSBC has downgraded its rating on Cisco Systems to 'Hold' from 'Buy'. The bank's analysts have also adjusted their price target for the tech giant to $120, representing a decrease of around 13% from the previous target of $137.

Cisco Systems is one of the leading technology companies in the world, known for its robust innovation and profitability. It plays a significant role in shaping the tech sector and broader economy.