Wall Street analysts on Friday gave price-target increases to shares of computer networking firm Arista Networks (ANET) and video game publisher Electronic Arts (EA). Also, coverage of fiber-optic communications company Lumentum Holdings (LITE) was initiated at hold, while enterprise software firm LogMeIn (LOGM) was started at buy.
Arista Networks, Lumentum and LogMeIn are all part of the elite IBD 50 list of top stocks.
Arista Networks Price Target Raised
Pacific Crest Securities reiterated its overweight rating on Arista Networks and raised its price target on the stock to 168 from 145.
Arista rose 1.8% to 161.69 on the stock market today, hitting an all-time high of 162.97.
Santa Clara, Calif.-based Arista, a leader in software-driven cloud networking systems for large data centers, is ranked No. 4 on the IBD 50 list of top-performing growth stocks.
EA Gets Price Increase
Piper Jaffray maintained its overweight rating on Electronic Arts, but upped its price target on the stock to 128 from 119.
X "Despite the significant upward move in EA shares, we believe there's room to go higher based on: 1) continued margin expansion, 2) improving revenue visibility through add-on content and subscriptions, and 3) potential for widening of the company's total addressable market over the next 5-plus years," Piper analyst Michael Olson said in a note to clients.
EA sank 1.6% to 110.83. It set an all-time high of 116.04, reached on June 8.
Fiber-Optic Stocks Evaluated
D.A. Davidson started coverage of three fiber-optic communications stocks. It gave buy ratings to Acacia Communications (ACIA) and Oclaro (OCLR), but initiated Lumentum at neutral. It set price targets of 61 on Acacia, 14 on Oclaro and 77 on Lumentum.
Acacia rose 7.1% to 44.59. Oclaro was up 6% to 10.01. Lumentum climbed 2.5% to 64.
Lumentum is ranked No. 1 on the IBD 50 list.
LogMeIn Logs New Buy Rating
Piper Jaffray initiated coverage of LogMeIn at overweight with a price target of 150.
LogMeIn was up 0.7% to 110.30 on Friday.
Boston-based LogMeIn is ranked No. 29 on the IBD 50 list.
