Shares of Cisco Systems Inc (NASDAQ:CSCO) surged in early trading on Thursday, after the company reported upbeat third-quarter results on Wednesday.

Here are the key analyst insights:

BofA Securities analyst Tal Liani maintained a Buy rating, while raising the price target from $95 to $114.

Rosenblatt Securities analyst Mike Genovese reiterated a Buy rating, while lifting the price target from $100 to $150.

Check out other analyst stock ratings.

BofA Securities: Cisco Systems reported revenue growth of 12% year-on-year, topping Street expectations of 10% growth, driven by Networking growth of 25%, which was supported by both Cloud and non-Cloud strength, Liani said in a note. Growth in product orders excluding AI accelerated to 19% year-on-year, from 10% in the previous quarter, driven by price hikes as well as "Enterprise AI readiness and Campus strength," he added.

While guiding to fourth-quarter revenue growth of 14.5%, which is ...