Barclays raised the firm’s price target on Arista Networks to $200 from $179 and keeps an Overweight rating on the shares. The company posted a strong beat in Q2, and raised Q3 and the full year guide, the analyst tells investors in a research note. The firm says Arista’s revenues continue to diversify with strong enterprise. The company has a goal for at least double-digit growth in 2024, which is attainable, and the “set up beyond that is even better” given its artificial intelligence potential, writes Barclays.
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