Morgan Stanley cuts Cisco stock rating on valuation concerns By Investing.com

Morgan Stanley has downgraded Cisco Systems Inc. (NASDAQ:CSCO) to Equalweight from Overweight, reducing its price target due to valuation concerns, despite the stock's significant rise over the past year. The firm believes that a substantial portion of the AI-driven rerating and market-cap expansion is already reflected in the shares, leaving less room for upside from earnings growth. This decision comes even as other analysts have recently raised their price targets for Cisco, citing strong fiscal 2026 results and growth prospects.