Canaccord Genuity Maintains a 'Buy' on Juniper Networks (JNPR); Rough Patch Telegraphed, Now Delivered
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Price: $39.95 --0%
Rating Summary:
16 Buy, 30 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 30 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Buy' on Juniper Networks (NYSE: JNPR), lowers price target to $35.
Canaccord analyst, Paul H. Mansky, says, "We maintain our rating on JNPR shares, albeit on reduced estimates and price target. Following a mid-quarter telegraph that June was proving difficult, Juniper issued a reset on the year after the close that proved a bit more draconian than we had expected. Although macro factors, product cycle timing and service provider linearity make 2011 a challenge, we conservatively view 2012 EPS power as being $1.65-1.85. Employing the low end of the traditional multiple range (20x) to this mid-point equates to $35, or +30% vs. after-hours levels of <$27."
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.
Canaccord analyst, Paul H. Mansky, says, "We maintain our rating on JNPR shares, albeit on reduced estimates and price target. Following a mid-quarter telegraph that June was proving difficult, Juniper issued a reset on the year after the close that proved a bit more draconian than we had expected. Although macro factors, product cycle timing and service provider linearity make 2011 a challenge, we conservatively view 2012 EPS power as being $1.65-1.85. Employing the low end of the traditional multiple range (20x) to this mid-point equates to $35, or +30% vs. after-hours levels of <$27."
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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