Cisco, Arista Cut to Neutral On Concern About Network Demand

October 13, 2020 By iwano@_84 Off

Cisco Systems  (CSCO) – Get Report and Arista Networks  (ANET) – Get Report were downgraded by Citigroup analyst Jim Suva, who sees the coronavirus pandemic continuing to blunt corporate demand for networks.

Cisco has networking systems for internet communications and internet technology, and Arista has cloud networking solutions.

Suva cut his share-price targets to $43 from $48 for Cisco and to $230 from $290 for Arista. 

Cisco, San Jose, Calif., recently traded at $40.31, up 1.2%. The stock has slumped 16% year to date. 

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