Arista Networks price target raised to $355 from $325 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Arista Networks to $355 from $325 and keeps an Overweight rating on the shares. After having hosted the firm’s quarterly Enterprise value added reseller, or VAR, call, the firm says VARs saw improvement across servers/storage in calendar Q2, with further improvement expected throughout the year driven by refresh cycles and AI investments, but noted networking was an area of weakness as some digestion remains and prioritization of spend shifts to a compute refresh.