Cisco falls despite upbeat 2027 revenue forecast
BUZZ-Cisco falls despite upbeat 2027 revenue forecast **Shares of networking equipment maker Cisco CSCO.O fall nearly 6% to $116.52 premarket
** Co forecast fiscal 2027 revenue above Wall Street expectations on Wednesday, signaling confidence that strong demand for its AI networking gear will continue to power growth
** Melius Research says co faced a tough setup, as conservative guidance to leave room for future beats required forecasting slower growth
** "We think Cisco gets bought on the dip since networking has so many secular tailwinds," adds brokerage
** Co also beat Q4 sales, profit estimates
** Twenty-seven analysts rate stock "buy" on average; median PT is $132 - data compiled by LSEG
** Up to last day's close, the stock had risen nearly 61% YTD
(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com ; X, formerly Twitter: @AkritiShahh))
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