Piper Jaffray Upgrades Juniper Networks (JNPR) to Buy, Adds To Alpha List
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Piper Jaffray upgrades Juniper Networks, Inc. (Nasdaq: JNPR) from Neutral to Buy with a $27 price target. The firm also added the stock to their Alpha List. The firm cited upcoming product cycle and valuation.
The firm said, "We have turned incrementally more upbeat on the name following a 21.6% drop in the share price since May 19th coupled with our belief Juniper will report relatively in line results and reiterate full year guidance. We believe the ongoing growth of video traffic and rich media applications will continue to flood carrier and enterprise networks and Juniper's positioning in high-end networking sector may help shield the company from unfavorable macro trends."
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