BofA raised the firm’s price target on Arista Networks (ANET) to $130 from $114 and keeps a Buy rating on the shares as the firm believes the company could be a significant beneficiary from the networking infrastructure cycle that is being driven by Generative AI. The expansive computational demands of genAI models are driving up demand for switches, routers, optical and storage, adds the analyst, who also expects Cisco (CSCO) and Ciena (CIEN) to be key beneficiaries.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ANET:
- Arista Networks put volume heavy and directionally bearish
- Arista Networks price target raised to $118 from $102.50 at Morgan Stanley
- Early notable gainers among liquid option names on December 13th
- Unusually active option classes on open December 13th
- Largest borrow rate increases among liquid names