Credit Suisse Upgrades Juniper Networks (JNPR) to Outperform

Credit Suisse upgraded Juniper Networks (NYSE: JNPR) from Neutral to Outperform with a price target of $31.00 (from $27.00) amid diversified growth.

Analyst K. Garcha commented, " We believe Juniper is transitioning through the IT disruption and volatile service provider market successfully. With a strong product portfolio, share gains in switching, and increasingly diversified product offerings we see the revenue and the business sustainably growing +3.7%/+3.8% per year for FY17/18, driven by the cloud vertical, which should drive operating leverage with gradual EPS growth, adjusting FY17 and introducing FY18 EPS forecasts of $2.29 (from $2.20)/$2.40 for FY17/18, respectively. Given this strong execution, we upgrade to Outperform (from Neutral) and increase our target price accordingly to $31 (from $27), reflecting ~15% of upside vs. current levels."

For an analyst ratings summary and ratings history on Juniper Networks click here. For more ratings news on Juniper Networks click here.

Shares of Juniper Networks closed at $26.93 yesterday.

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