Why Arista Networks (ANET) Stock Is Higher Today

NEW YORK (TheStreet) -- Arista Networks (ANET) shares are up 0.93% to $72.89 today after it announced a strategic relationship with VMware (VMW) 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) upgraded its rating on Arista to "buy" from "neutral."

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Morgan Stanley (MS) increased its price target on the stock to $84 from $77.

Bank of America/Merrill Lynch  (BAC) 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.

ANET Chart

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