Juniper Networks (JNPR) PT, Estimates Lowered at Piper Jaffray Post Q2, Weak Q3 Guide

Piper Jaffray analyst Troy Jensen trimmed estimates and his price target on Neutral-rated Juniper Networks (NYSE: JNPR) to $26.00 (from $28.00) following respectably Q2 results but guidance for Q3 that was comfortably below consensus due to a pause in U.S. carrier spending plans.

Jensen said, "Juniper remains committed to cutting costs with lower projected opex and returning capital to shareholders via share repurchases and dividends, but we believe a majority of the cost cuts have already been implemented so future earnings expansion will need to be driven by revenue growth. That said, we believe the switching and routing markets will remain low-mid single-digit growth markets, which dampens our enthusiasm for Juniper’s stock."

The firm cut FY 2014 EPS from $1.69 to $1.51 and FY 2015 EPS from $2.03 to $1.76.

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 $24.82 yesterday.

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