Cloud services provider Arista Networks looks attractive at current levels as it will likely keep its growth rate over the next few years, Barclays said. Analyst Tim Long upgraded the stock to buy while keeping his price target at $131 per share, which he called a "conservative" estimate. "ANET is a high-valuation stock, but we believe this is justified given the high revenue growth rate and favorable margin and cash flow structure," Long said in a note to clients Wednesday. "We see mid-teens revenue growth as sustainable for the next few years, and gross and operating margins should remain high." Long cited stalled cloud growth and said planned moves to software that drummed up excitement had been slow compared to competitors.

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