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Cisco shares scale 18-year highs on return of revenue growth


(Reuters) - Shares in Cisco Systems Inc were set to open at their highest in 18 years on Thursday after quarterly earnings suggested a years-long effort to turn the network gear maker around was finally bearing fruit.Shares of the world's biggest producer of vital data connectors like routers and switches were up 7.7 percent at $45.53 in premarket trading. They have risen 30 percent in the past 12 months.At least 12 brokerages raised their price targets on the stock, with the highest now Deutsche Bank analysts' $55 a share.The company's quarterly revenue rose 2.7 percent to $11.9 billion, the ...

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First Published: Thu, February 15 2018. 19:24 IST