Nvidia (NVDA) has reported a doubling of sales in its enterprise data center sector. In light of this, Citi has published a research report raising the target price for Cisco Systems (CSCO, Financial) from $71 to $73, maintaining a "buy" rating.
Citi believes that the collaboration between Cisco and Nvidia will be well-supported and could favorably impact Cisco's $1 billion AI order forecast. With the rising opportunities in artificial intelligence and Cisco's relatively low valuation, the company remains the top choice in communication equipment this year.
