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Citi has added Arista Networks (NYSE:ANET) to its 30-day constructive catalyst watch record, anticipating earnings to convey an inflection within the networking tools inventory.
Analyst Jim Suva is making the transfer “as we see the corporate expedite delivery for as a lot product as doable and nonetheless unable to fulfill demand, coupled with persevering with share acquire from Cisco (CSCO).”
Demand is very heavy for hyperscale switches, he says.
“Hyperscaler and cloud demand for switches will profit Arista with demand surpassing provide, for not simply this quarter, but additionally for the longer term, in our view. We see police and first responder spending power from each elevated native budgets from authorities stimulus but additionally greater authorities inflows (greater property taxes),” Suva wrote.
Arista Networks is amongst Citi’s prime purchase scores within the house, together with Motorola Options (MSI), and Keysight (KEYS) and Ciena (CIEN), which report off-quarter. It has Promote scores on Cisco Programs (CSCO) and CommScope (COMM).
Arista will report earnings Oct. 31 after the market shut; consensus expectations are for earnings per share of $1.04 on a normalized foundation, on revenues anticipated to hit $1.06B.
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