Needham & Company Maintains a 'Buy' on Juniper Networks (JNPR); Cautious Environment Continues into ‘12

Needham & Company maintains a 'Buy' on Juniper Networks (NYSE: JNPR) price target lowered from $34 to $26.

Needham analyst says, "Overall, JNPR reported a solid 3Q about in-line with Street expectations and at guidance midpoint as strength in SRX, enterprise and switching was offset by weakness in routing/ service provider. JNPR is cautious near term due to below normal 4Q “budget surge”, macro, softer carrier CAPX, but solid 3Q bookings now targeted for 1Q installation at SPs, design wins, and new product launches/cycles suggest a stronger 2012." (Needham lowers FY11 EPS estimate from $1.31 to $1.25 and FY12 from $1.63 to $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 $21.41 yesterday.

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