UBS Maintains a 'Neutral' on Juniper Networks (JNPR); Lowering Estimates and Target

UBS maintains a 'Neutral' on Juniper Networks (NYSE: JNPR) price target lowered from $24 to $20.50.

UBS analyst says, "We lower 2012 EPS to $1.35 from $1.45 and sales growth to 8.4% from 10.6% given a reduced global 2012 wireline capex est of -5.3% (vs. prior -1.1%). For 2012 our checks show a down US wireline capex, and macro uncertainty impacting Euro spending. Lack of traction of MobileNext for mobile packet core oppties will limit benefits from ‘12 LTE capex ramp."

"Q-Fabric Continues To Ramp Slowly: We are also reducing our outlook for JNPR’s Q-Fabric product given a likely continued prolonged testing cycle for this product in 2012 and a more competitive Cisco in defending its Data Center Switching market. While JNPR has a strong technology pedigree, our checks show an unclear timing of Q-Fabric."

For an analyst ratings summary and ratings history on Juniper Networks click here. For more ratings news on Juniper Networks click here.

Shares of Juniper Networks closed at $18.60 yesterday.

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