Arista Networks Surges 4% Following Citi’s Upgrade
<p><a href='https://financialmodelingprep.com/financial-summary/ANET'>Arista Networks (NYSE:ANET)</a> gained more than 4% on Thursday after receiving an upgrade from Citi. The upgrade is rooted in the company’s potential as an early entrant in AI and its connection to the resurgence of cloud spending for 400G infrastructure.</p>
<p>Citi analysts raised the stock's rating from Neutral to Buy and adjusted the price target to $220 from $177.</p>
<p>The upgrade is driven by the expectation that cloud expenditure for 400G will bounce back in the next year, driven by increased spending from hyperscale companies on traditional data center infrastructure and the recovery of capital expenditure from a key customer. Malik also highlighted the anticipation that Ethernet will gain a larger share in the competition with InfiniBand as AI clusters expand and become more widely integrated into existing networks.</p>

NYSE:ANET