Wells Fargo Cuts PT and Estimates on Juniper Networks (JNPR); Coming To Grips With The Slowdown

June 13, 2012 9:32 AM EDT Send to a Friend
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Wells Fargo maintains a 'Market Perform' on Juniper Networks (NYSE: JNPR) price target range $14-17 (from $20-24).

Analyst, Jess Lubert, said, "We attended Juniper's analyst day, which outlined its addressable end-market opportunities, new product initiatives, and strategy to gain share in key product categories. That said, the biggest news surrounded Juniper's reduced long-term financial model, which now calls for 9-12% sales growth, 63-66% gross margin, and 20+% operating margin during 2012-15..."

Lubert said lowered growth assumptions were below what many were expecting and therefore reflect maturation of the router market, higher competition and continued global challenges. Lubert cuts FY13 EPS from $1.25 to $1.20.

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 $16.61 yesterday.

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