BofA/Merrill Lynch analyst Tal Liani reiterated a Buy rating and $81 price target on Arista Networks (NYSE: ANET) following strong Q4 results, momentum and execution.

The analyst noted management said the Cisco lawsuit has not affected customer demand and hearings are expected to start in October and last through mid-2016.

The firm raised FY 2015 EPS from $1.67 to $1.84, FY 2016 EPS from $2.14 to $2.35 and FY 2017 EPS from $2.43 to $2.75.

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Shares of Arista Networks closed at $67.99 yesterday.