Baird Remains Sidelined on Juniper Networks (JNPR) Following Strong 2Q
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Rating Summary:
16 Buy, 30 Hold, 2 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Baird reiterated a Neutral rating and $26.00 price target on Juniper Networks (NYSE: JNPR) following the company's 2Q earnings report. JNPR reported revenue and non-GAAP EPS of $1.22 billion/ and $0.50. Results were strong compared with consensus of $1.19 billion and $0.47, respectively. management guided revenue/non-GAAP EPS of $1.22-1.28 billion/$0.48-0.54 compared with consensus of $1.24 billion/$0.54.
Analyst Jayson Noland commented, "Juniper posted decent revenue results overall but cited product mix and pricing pressure in EMEA which negatively impacted gross margin. Management also called out limited 2H visibility with Tier 1 Service Providers in the U.S. We don’t anticipate a near-term catalyst for the shares and view the stock as fairly valued around current levels."
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 $24.22 yesterday.
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Robert W Baird, Earnings, Jayson NolandSign up for StreetInsider Free!
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