Citi Upgrades Arista Networks To Buy; Sees Sharp Upside

January 24, 2022 8:54 AM | 1 min read |

Citi analyst Jim Suva upgraded Arista Networks Inc ANET, noting that the recent sell-off has provided a good buying opportunity for investors.
Suva raised his rating to Buy from Neutral and reiterated the $150 price target, suggesting an upside of 26.44%.
Suva noted that the 17% decline year-to-date occurred, although Arista's fundamentals are "strong," as capital expenditure spending for its customers is increasing.
Arista is a software and hardware provider for the networking solutions sector.
Price Action: ANET shares traded higher by 1.37% at $118.63 in the premarket session on the last check Monday.