Citi Upgrades Arista Networks to Buy; Sees Sharp Upside

By Benzinga
Benzinga
Benzinga
January 24, 2022 Updated: January 24, 2022

Citi analyst Jim Suva upgraded Arista Networks Inc., 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 percent.

Suva noted that the 17 percent 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.

By Anusuya Lahiri

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