Nomura/Instinet analyst Jeffrey Kvaal raised the price target on Arista Networks (NYSE: ANET) to $275.00 (from $260.00) while maintaining a Buy rating.

The analyst commented, "Arista's services unit drove Arista's typical upside to consensus; product revenue was indeed a bit soft. We consider the larger story to be Arista's ability to manage through 2018's 121% uptick in MSFT sales, its subsequent ~25% 2019E downtick, and still retain comfort with consensus sales estimates. Our EPS estimates rise and we lift our t arget to $275. FY19E EPS from $9.63 to $9.64; FY20E EPS from $11.06 to $11.45."