Jefferies Lowers Price Target On Juniper (JNPR) But Maintains a Buy

Jefferies lowered its price target on Juniper Networks (NYSE: JNPR) from $43 to $34 but is keeping their Buy rating saying you can't sell down here.

The firm notes, "The Q2 results and Q3/Q4 guidance were clearly disappointing. The reallocation of carrier capex budgets toward Wireless capital spending is having a more significant impact on the business than we had previously anticipated."

The firm cut Q3 EPS estimates from $0.41 to $0.28, FY11 from $1.57 to $1.35 and FY12 from $1.95 to $1.70.

For more ratings news on Juniper Networks click here and for the rating history of Juniper Networks click here.

Shares of Juniper Networks closed at $31.17 yesterday.

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