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Fly News Breaks for March 4, 2020
Mar 4, 2020 | 07:46 EDT
JPMorgan analyst Samik Chatterjee upgraded Arista Networks to Neutral from Underweight with an unchanged price target of $182. The analyst cites the combination of already lowered expectations for 2020, a backdrop of improving cloud industry spend, and an earnings multiple at a "significant discount" to recent average multiples for the upgrade. He sees limited likelihood of any material negative catalysts through to the end of the year. Further, Chatterjee expects a moderate impact to networking equipment spend from enterprises as a consequence of COVID-19 disruptions.
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