Arista Networks (ANET) PT Raised to $110 at BMO Capital as Positive Litigation Removes Overhang
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BMO Capital analyst Tim Long reiterated an Outperform rating and boosted his price target on Arista Networks (NYSE: ANET) to $110.00 (from $93.00) following thee favorable ruling from US Customs and Border Protection is a positive for Arista and partially removes an overhang on the stock.
Arista had been preparing for a potential import ban by building inventory and preparing investors for a negative impact on gross margins, Long notes. "We now expect gross margins to remain more in line with recent trends, though there are still some legal risks regarding this and another patent."
Shares of Arista Networks closed at $87.98 yesterday.
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