NEW YORK (TheStreet) -- Arista Networks (ANET - Get Report) shares are up 0.93% to $72.89 today after it announced a strategic relationship with VMware (VMW - Get Report) to enable customers to accelerate adoption of network virtualization through Arista Networks in VMware's software-defined data center.
This new collaboration builds on the four year relationship between Arista, the computer networking company, and VMware, the cloud and virtualization software firm.
Earlier, Citigroup (C - Get Report) upgraded its rating on Arista to "buy" from "neutral."
Morgan Stanley (MS) increased its price target on the stock to $84 from $77.
Bank of America/Merrill Lynch (BAC - Get Report) increased its price target to $85 from $74, as the bank believes Arista is well positioned to benefit from the increasing number of cloud deployments and demand for streaming services.