Ticonderoga Securities Upgrades Juniper Networks (JNPR) to Buy

November 30, 2009 8:58 AM EST
Get Alerts JNPR Hot Sheet
Price: $27.87 --0%

Rating Summary:
    17 Buy, 31 Hold, 2 Sell

Rating Trend: = Flat

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    Up: 0 | Down: 0 | New: 0
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Ticonderoga Securities upgrades Juniper Networks (Nasdaq: JNPR) from Neutral to Buy. Price target $31.

Ticonderoga analyst says, "We are upgrading our investment rating on Juniper Networks to Buy as we believe spending on next generation IP networks by service providers is in the early stages of improvement that we expect will accelerate over the next 12-18 months. Additionally, Juniper is increasingly becoming better equipped to address new opportunities in the data center with its growing Ethernet switch portfolio, while the increased interest in networking capabilities by leading IT companies should drive higher valuations in the group...The service provider programs in our tech supply chain universe have lagged the rebound in the enterprise networking market but we believe this business is in the early stages of a recovery as service providers prepare for increased investment in IP networks. Additionally, Juniper's sales and profit cycles have lagged its enterprise-focused peers but we believe the trough was made and a return to positive territory is projected in 1Q10."

"The networking space has been a hot spot for acquisitions over the past couple of months and the proposed H-P/3Com deal demonstrates the growing importance of the leading networking vendors in the data center, which we believe should be reflected in valuation levels. We believe leading IT companies such as Dell (Nasdaq: DELL), IBM (NYSE: IBM) and even Oracle (Nasdaq: ORCL) could potentially follow in H-P footsteps by adding a networking company to their portfolio, while H-P (NYSE: HPQ) could double dip."

To see all the upgrades/downgrades on shares of JNPR, visit our Analyst Ratings page.

Juniper Networks, Inc. designs, develops, and sells products and services that provide network infrastructure, which creates environment for accelerating the deployment of services and applications over a single Internet Protocol (IP) based network.

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