Arista Networks (ANET) Gets a Positive Catalyst Watch-Citi Raises PT to $123

Arista Networks Inc. (NYSE:ANET) is a Must-Watch AI Stock on Wall Street. On July 11, Citigroup analyst Atif Malik maintained a “Buy” rating on the stock and raised the price target from $112.00 to $123.00.

The firm added a positive catalyst watch on Arista Networks, stating that the stock has more room to run. It believes that Arista Networks will outperform as the company’s second-half outlook receives positive revisions.

Arista is anticipated to provide September quarter guidance along with an updated fiscal year 2025 outlook with its June quarter results. The firm expects the company to raise its forecast to 17% yearly sales growth. This could drive upward revisions to current consensus estimates of 15% revenue growth for the second half of the year.

Two factors highlighted by the firm behind Arista Networks’ growth are robust hyperscale data center capital expenditure spending and a booming data center switch market.

“We are opening a positive catalyst watch on Arista as we believe shares will outperform with positive revisions to the company’s 2H outlook.”

Arista Networks Inc (NYSE:ANET) develops, markets, and sells cloud networking solutions.

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