Wells Fargo Downgrades Juniper Networks (JNPR) to Market Perform; Growth Outlook Deteriorates
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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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Wells Fargo downgraded Juniper Networks (NYSE: JNPR) from Outperform to Market Perform with a price target range $20-$23 from $23-26.
Wells analyst says, "While the quarter met our in-line-with consensus estimates, the outlook was disappointing due to macro uncertainties and delayed timing of several large carrier orders. With Juniper now forecasting flat yr/yr growth during the December quarter and noting uncertain customer spending patterns entering 2012, we choose to move to the sidelines pending further evidence that new products can positively impact the model during CH2 2012 before considering a more constructive view on the stock. Post Q3 results, we reduce our 2011 and 2012 non-GAAP EPS estimates from $1.28 and $1.51 to $1.24 and $1.43."
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 $21.41 yesterday.
Wells analyst says, "While the quarter met our in-line-with consensus estimates, the outlook was disappointing due to macro uncertainties and delayed timing of several large carrier orders. With Juniper now forecasting flat yr/yr growth during the December quarter and noting uncertain customer spending patterns entering 2012, we choose to move to the sidelines pending further evidence that new products can positively impact the model during CH2 2012 before considering a more constructive view on the stock. Post Q3 results, we reduce our 2011 and 2012 non-GAAP EPS estimates from $1.28 and $1.51 to $1.24 and $1.43."
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 $21.41 yesterday.
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