Arista Networks price target raised to $310 from $225 at Wells Fargo

Wells Fargo raised the firm’s price target on Arista Networks to $310 from $225 and keeps an Overweight rating on the shares. The firm expects Arista to report strong Q4 2023 results with top- / bottom-line upside as hyperscaler-driven AI infra spend accelerates. However, Wells is tactically cautious into the print as it sees sentiment a bit too euphoric in terms of 2024 guide upside.