Nomura Securities Cuts Estimates and PT on Juniper Networks (JNPR); Analyst Meeting Unlikely To Reassure

June 8, 2012 8:31 AM EDT
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Price: $27.87 --0%

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    17 Buy, 31 Hold, 2 Sell

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Nomura Securities maintains a 'Neutral' on Juniper Networks (NYSE: JNPR) price target of $20.00 (from $21.50)

Analyst, Stuart Jeffrey, said, "Juniper is hosting its capital markets day on June 12. We believe Juniper will use its capital markets day to reset intermediate growth and margin expectations, as current intermediate targets of 20% growth/25% margins appear unattainable. A cut in growth is already reflected in consensus estimates, as it calls for low-teens growth and 20% margin through 2014. Given the macro environment and Juniper’s loss of momentum we see little scope for upward revisions on consensus estimates from the meeting."

FY12 EPS estimate cut from $0.45 to $0.42, FY13 from $0.87 to $0.79 and FY14 from $1.12 to $0.94.

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 $16.57 yesterday.

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