BofA raised the firm’s price target on Arista Networks (ANET) to $130 from $114 and keeps a Buy rating on the shares as the firm believes the company could be a significant beneficiary from the networking infrastructure cycle that is being driven by Generative AI. The expansive computational demands of genAI models are driving up demand for switches, routers, optical and storage, adds the analyst, who also expects Cisco (CSCO) and Ciena (CIEN) to be key beneficiaries.
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