Citi analyst Atif Malik raised the firm’s price target on Arista Networks (ANET) to $123 from $112 and keeps a Buy rating on the shares ahead of the earnings report on August 5. Citi also opened a “90-day positive catalyst watch” on the shares. The firm cites a better outlook for data center switching for the target increase. Arista is benefitting from a growing ethernet switching market, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ANET:
- Arista Networks initiated with an Outperform at Wolfe Research
- SMCI or Arista: KeyBanc Chooses the Superior AI Infrastructure Stock
- Arista Networks: Strategic Acquisitions and Product Expansion Drive Buy Rating
- Arista Networks’ Strategic Acquisition of VeloCloud: A Catalyst for Enhanced Market Position and Growth
- Arista Networks’ Stock Surge: What’s Driving It?