Wedbush Cuts Price Target on Juniper Networks (JNPR) Following Market Checks
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Price: $39.95 --0%
Rating Summary:
16 Buy, 30 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 9
Rating Summary:
16 Buy, 30 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 9
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Wedbush is reaffirming its Neutral rating on shares of Juniper Networks (NYSE: JNPR) and is reducing its price target from $24 to $22 ahead of third quarter earnings.
The company is scheduled to release its Q3 earnings on October 18 following the closing bell.
The firm reports that recent market checks indicate some strength in the North American market. Market checks also show large discounting and macro challenges. Wedbush is not expecting strong results and lackluster guidance.
An analyst at Wedbush comments, "we believe discounts are driving purchasing habits, but are having a negative impact on ASP’s, thus making revenue growth more challenging. Furthermore, European macro issues, especially at tier-2 telcos and enterprises, likely created some spending headwinds despite some movement with U.S. federal projects in the departments of Navy, Army and State."
For Q3, the firm estimates $1.09 billion in revenue and $0.27 in EPS as the company's guidance calls for $1.07-$1.12 billion in sales and EPS of $0.26-$0.30.
For FY11 and FY12, Wedbush lowered its EPS estimates from $1.26 and $1.48 to $1.25 and $1.44.
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 $19.68 yesterday.
The company is scheduled to release its Q3 earnings on October 18 following the closing bell.
The firm reports that recent market checks indicate some strength in the North American market. Market checks also show large discounting and macro challenges. Wedbush is not expecting strong results and lackluster guidance.
An analyst at Wedbush comments, "we believe discounts are driving purchasing habits, but are having a negative impact on ASP’s, thus making revenue growth more challenging. Furthermore, European macro issues, especially at tier-2 telcos and enterprises, likely created some spending headwinds despite some movement with U.S. federal projects in the departments of Navy, Army and State."
For Q3, the firm estimates $1.09 billion in revenue and $0.27 in EPS as the company's guidance calls for $1.07-$1.12 billion in sales and EPS of $0.26-$0.30.
For FY11 and FY12, Wedbush lowered its EPS estimates from $1.26 and $1.48 to $1.25 and $1.44.
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 $19.68 yesterday.
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