Arista Networks (ANET) PT Raised to $95 at RBC Capital; Import Ban Lift Removes Bear Thesis, Bolsters Margins

November 21, 2016 11:03 AM EST
Get Alerts ANET Hot Sheet
Price: $89.72 --0%

Rating Summary:
    21 Buy, 12 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 24 | New: 12
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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.

For an analyst ratings summary and ratings history on Arista Networks click here. For more ratings news on Arista Networks click here.

Shares of Arista Networks closed at $87.98 yesterday.

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