Arista Networks price target raised to $432 from $349 at KeyBanc

KeyBanc raised the firm’s price target on Arista Networks (ANET) to $432 from $349 and keeps an Overweight rating on the shares. Results from the firm’s Q2 IT VAR survey suggest a similar or even slightly more challenging quarter than Q1. With that said, Microsoft (MSFT) Azure improvements in survey and cloud capex trends at key customers continue to improve from Enterprise SW Team checks. Checks and AI-related trends for Arista, as well.