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One Reason Why Arista Networks (ANET) Stock Closed Up Today

NEW YORK (TheStreet) -- Shares of Arista Networks (ANET) closed higher on heavy trading volume Thursday as BMO Capital Markets initiated coverage of the stock with an "outperform" rating and $90 price target.

The Santa Clara, CA-based company provides software-driven cloud networking solutions for large data center storage and computing environments.

"We are positive on the fundamentals for Arista. We expect share gains to continue in data center switching as Arista's differentiated solution gains traction," the firm wrote in a note earlier today.

The company will be...