Shares of Arista Networks Inc. are up 2.6% in Tuesday morning trading after several analysts commented on the company's recent analyst day. Morgan Stanley analyst James Faucette reiterated his overweight rating on the stock, writing the Arista's "attraction as a stock is the push into new markets, including campus, that the company is just beginning, while we think the market is overly focused on hyperscale customer dynamics (where we still see good demand growth)." Faucette sees Arista's move into campus networking as one that could potentially double the company's total addressable market. Instinet's Jeffrey Kvaal saw some positives as well but maintained his neutral rating and $235 target. "Arista's well-attended analyst day yesterday formally announced the details of what had been an open secret-an entry into the campus switching market," Kvaal wrote. "We find Arista's plan to offer cloud tools for the campus networks of existing enterprise customers credible, though early." He said that the news could be seen as a "long-term risk for Cisco " Arista shares are up 82% over the past 12 months, while the S&P 500 has gained 11%.