Arista Networks (ANET, Financial) has seen its price target elevated to $123 from the previous $112 by Citi analyst Atif Malik. Retaining a Buy rating, Malik made this adjustment in anticipation of the company's upcoming earnings announcement on August 5. Additionally, Citi has initiated a "90-day positive catalyst watch" for the stock, reflecting optimism about the firm’s future performance.
The revised price target is influenced by a favorable outlook for the data center switching sector, where Arista is making significant strides. The analyst highlights the company's advantage in the expanding ethernet switching market, which is expected to contribute positively to its growth prospects.
