Arista Networks price target raised to $225 from $195 at Argus

Argus analyst Jim Kelleher raised the firm’s price target on Arista Networks to $225 from $195 and keeps a Buy rating on the shares after its Q2 earnings beat. The arrival of generative AIs such as ChatGPT and Bard has led to accelerating growth in cloud-based data center networking in support of large language models, and as the leader in enterprise and data center cloud networking, Arista is uniquely positioned to benefit from this unfolding opportunity, the analyst tells investors in a research note.