FBN Boosts PT on Juniper Networks (JNPR) to $28 Following Q3 Report; Notes Strength in Routing, Switching
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FBN Securities is lifting its price target on Sector Perform-rated Juniper Networks (NYSE: JNPR) from $25 to $28 following Juniper's Q3 report on Tuesday night.
Analyst Shebly Seyrafi commented,
The company’s routing (+3% Y/Y) and switching (+10% Y/Y) segments came in nicely above expectations helped by strong sales to cloud providers (helping routing) and strong sales of its QFX family products (helping switching), which grew by 50% Y/Y. We are also encouraged by the book-to-bill remaining over 1.0. However, security (9% of product revenue) declined by 29% Y/Y as the company faces strong competition in this market.
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