Arista Networks (ANET) PT Raised to $95 at RBC Capital; Import Ban Lift Removes Bear Thesis, Bolsters Margins
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
RBC Capital analyst Mitch Steves raised his price target on Sector Perform-rated Arista Networks (NYSE: ANET) to $95.00 (from $85.00) after the company announced this morning that it has received customs approval to begin importing goods related to the Cisco litigation.
"We view this as a net positive given that the ban has acted as a gross margin headwind," the analyst said.
"Importantly, this lifts a bear thesis from the stock with regard to structural gross margin declines as the customs approval should allow for margins to creep back up to 64%+," the analyst added.
Shares of Arista Networks closed at $87.98 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pivotal Research Upgrades Flowers Foods (FLO) to Hold
- UBS Cuts Price Target on Restoration Hardware (RH) to $34 Following 3Q
- UBS Raises Price Target on Dick's Sporting Goods (DKS) to $69
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesRBC Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!