Arista Networks could be an early way to get into artificial intelligence, according to Citi.
Analyst Atif Malik upgraded the networking equipment stock to buy from neutral and raised his price target to $220 from $177.
He also said AI can create a business opportunity between $2 billion and $5 billion over the next three to five years.
Malik said Arista's investor day in November could be a positive catalyst for the stock.
ANET YTD mountain Arista Networks, year to date — CNBC's Michael Bloom contributed to this report
Persons:
Atif Malik, Malik, hyperscaler capex, Michael Bloom
Organizations:
Arista Networks, Citi, Arista, Nvidia, Microsoft, Meta