Juniper Networks (JNPR): Service Provider Drives Upside - BMO
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BMO Capital analyst, Tim Long, reiterated his Market Perform rating on shares of Juniper Networks (NYSE: JNPR) and raised his price target to $26 from $24 after Juniper reported a solid quarter as revenue, EPS and guidance topped expectations.
The strength in service provider was a surprising bright spot and helped drive better router sales. Switching also remained strong amid good success with the new offerings. Conversely, gross margins remain weak and are unlikely to improve for some time.
The analyst stated "we remain on the sidelines, though we could get more constructive if the strength this quarter proves sustainable".
Shares of Juniper Networks closed at $23.72 yesterday.
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