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Fly News Breaks for January 7, 2019
ANET
Jan 7, 2019 | 07:30 EDT
As previously reported, Morgan Stanley analyst James Faucette upgraded Arista Networks to Overweight from Equal Weight, arguing that the recent pullback in shares presents an attractive opportunity. Arista's "Cloud Titans" hyperscale customers are growing their cloud businesses at over 25% per year, which he continues to expect to drive demand for Arista equipment at a similar rate, Faucette tells investors. He sees a path to $12 in annual EPS and potential for revenue growth reacceleration, added the analyst, who lowered his price target on Arista shares to $250 from $290 to factor in the recent market correction on growth names.
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