Cisco persevered in a brutal economic climate, offering what one analyst called ‘a glimmer of confidence’

“Cisco beat in a very difficult climate. Furthermore, Cisco suggested business was unlikely to worsen beyond F4Q absent a worsening pandemic,” Instinet’s Jeff Kvaal wrote in a note Thursday titled “A Glimmer of Confidence.” He raised his price target to $46 from $43 while retaining a neutral rating on the stock.