Arista Networks price target raised to $130 from $110 at Evercore ISI

Evercore ISI raised the firm’s price target on Arista Networks (ANET) to $130 from $110 and keeps an Outperform rating on the shares. The firm remains constructive on companies tied to broader enterprise IT and AI-related infrastructure spending and thinks the setup for calendar Q4 “remains favorable”, with expectations for in line or modest beats, the analyst tells investors. However, the firm suspects companies may take “a more prudent and cautious stance” for calendar 2025 guidance given ongoing uncertainty especially on the public spending side, the analyst added.