economy
Cisco could see a nearly 25% post-earnings boost over the next quarter, pro trader says
Jay Woods reviews Cisco, a key company reporting earnings this week, and why traders will be dissecting this week's CPI and PPI data.
TL;DR
- Jay Woods sees Cisco potentially rising to $110 or $120 next quarter.
- This target implies a rally of over 24% from Cisco's closing price of $96.57.
- Cisco is set to report earnings after the market closes on Wednesday.
- Woods views $90 as minor support and $82 as major support for Cisco's stock.
- He suggests $82 could be a good entry point if Cisco experiences a significant downturn.
- Oklo is another stock with earnings this week that Woods is monitoring.
- Strong CPI and PPI data, following April's jobs report, could positively impact the market.