UPDATE: Credit Suisse Initiates Coverage On Arista Networks

In a research note released Tuesday, Credit Suisse analyst Kulbinder Garcha initiated coverage on Arista Networks ANET with an Outperform rating and a $90.00 price target.

The analyst stated that the company has a wide range of products based on commodity silicon and an open and highly-programmable extensible operating system.

Shares of Arista closed Tuesday at $76.00, up 21.8 percent from Monday's close.