Cisco could see a nearly 25% post-earnings boost over the next quarter, pro trader says

(PRO Views are exclusive to PRO subscribers, giving them insight on the news of the day direct from a real investing pro. See the full discussion above.) NYSE insider Jay Woods is keeping a special eye on Cisco this week, as he sees the potential for the internet infrastructure company to rise to $110 or $120 over the next quarter as "realistic upside targets." Shares of Cisco closed at $96.57 on Friday. A price level of $120 would imply a rally of more than 24%. The company reports earnings after Wednesday's closing bell. "Cisco — a juggernaut back in the 90s, but hasn't had that parabolic rise like it used to. Will it continue to rally into this strong tape? Right now it's up 25% year to date, but last quarter they missed. Last quarter it was down 12% after a strong quarter, but people [were] concerned about the margins when it came to the memory spend," said Woods, chief market strategist at Freedom Capital Markets. He added that the $90 level would provide "minor support" for the name, while $82 would look like "major support." "If you've been looking to get into this name, $82 if it does overreact — like it did last quarter — a great place to enter to the upside," he said. (Watch full video above.) Woods also touches on the following in the exclusive video: Another key stock with earnings this week: "nuclear favorite" Oklo . The trader remarks that if the stock can eclipse its 200-day moving average on a rally, it may have room to run. …