Arista Networks price target raised to $171 from $140 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Arista Networks (ANET) to $171 from $140 and keeps an Overweight rating on the shares. Heading into the Q3 reports for the telecom and networking equipment sector, the firm prefers companies with higher margins and artificial intelligence exposure. Strong demand should continue as optical and networking helps “resolve bottlenecks” to getting greater graphics processing unit utilization, the analyst tells investors in a research note.