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Fly News Breaks for September 14, 2015
CSCO, ANET
Sep 14, 2015 | 07:41 EDT
Stifel says that initial reads from Arista's (ANET) patent case with Cisco (CSCO) have been negative for Arista. After the ITc staff reported that Arista had infringed on three of five patents, the firm notes that ITC judges do rely on the staff's recommendations. The firm believes that the "most likely scenario by far" will include restructuring of software by Arista. Stifel says that these changes could impact the company's R&D spending going forward. However, it does not expect the impact on 2016 EPS to exceed 40c, versus its current 2016 EPS estimate of $2.34. Stifel keeps a $95 price target and Buy rating on the shares.
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