---
title: "《大行》美銀證券指思科業務穩步改善 上調目標價至 85 美元"
description: "美銀證券報告指出，思科的業務穩步改善，主要得益於產品組合革新、人工智能和數據增長的推動。儘管財報和指引沒有重大亮點，但收入同比增長 7.6%，略高於市場預期的 7.3%。每股盈利為 98 美仙，超出預期。美銀將思科目標價從 76 美元上調至 85 美元，維持「買入」評級。"
type: "news"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/253388547.md"
published_at: "2025-08-18T03:53:43.000Z"
---

# 《大行》美銀證券指思科業務穩步改善 上調目標價至 85 美元

> 美銀證券報告指出，思科的業務穩步改善，主要得益於產品組合革新、人工智能和數據增長的推動。儘管財報和指引沒有重大亮點，但收入同比增長 7.6%，略高於市場預期的 7.3%。每股盈利為 98 美仙，超出預期。美銀將思科目標價從 76 美元上調至 85 美元，維持「買入」評級。

美銀報告指，思科 (CSCO.US) 故事圍繞着產品組合革新、人工智能和數據增長推動的重大基建週期，以及執行力的持續改善。雖然財報和指引缺乏重大亮點，但略高於預期，收入按年升 7.6%，略高於市場預期的 7.3%，利潤率符合預期，每股盈利 98 美仙，較市場預期高 1 美仙。這些結果反映多方面的穩步改善，包括扣除聯邦政府部門後訂單增長 10%，強勁的網絡趨勢以及安全業務增長的復甦。

該行對思科的業績預測進行微調，重申對思科「買入」評級，目標價從 76 美元上調至 85 美元，為 2026 年企業價值對比自由現金流的 20 倍，此前為 18 倍。

### Related Stocks

- [CSCO.US - 思科](https://longbridge.com/zh-HK/quote/CSCO.US.md)

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