Market Overview

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

Share:
Related ANET
7 Must Watch Stocks for Today
Arista Networks Tops Q1 Estimates

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
Apr 2015WedbushInitiates Coverage onNeutral
Mar 2015Guggenheim SecuritiesInitiates Coverage onNeutral
Feb 2015BarclaysMaintainsOverweight

View More Analyst Ratings for ANET
View the Latest Analyst Ratings

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

 

Related Articles (ANET)

Around the Web, We're Loving...