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UPDATE: Citigroup Upgrades Artista Networks On 'Sizable Q2 Beat'

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In a note released Friday, Citigroup analyst Ehud Gelblum upgraded shares of Arista Networks (NYSE: ANET) from Neutral to Buy and raised the price target from $70 to $90.

Gelblum's upgrade is based on increased confidence from Arista's second quarter beat that the company will be able to sustain operating margins in the ~20 percent range for 2014. He noted the prior Neutral rating was reflected an estimate of 12 percent.

Gelblum wrote, "We believe Arista remains well positioned to gain share in the DC switching market as cloud providers remain at the cusp of a collective multi-year global data center build-out and feel more comfortable with a higher multiple."

Latest Ratings for ANET

DateFirmActionFromTo
Oct 2014MKM PartnersInitiates Coverage onBuy
Sep 2014Deutsche BankMaintainsBuy
Sep 2014FBN SecuritiesInitiates Coverage onOutperform

View More Analyst Ratings for ANET
View the Latest Analyst Ratings

Posted-In: Citigroup. Ehud GelblumAnalyst Color Upgrades Price Target Analyst Ratings

 

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