Wells Fargo Cuts Estimates on Juniper Networks (JNPR); Cautious View Warranted

Wells Fargo maintains a 'Market Perform' on Juniper Networks (NYSE: JNPR) price target range cut from $20-23 to $18-21.

Wells analyst says, "Earlier today (01/09), Juniper announced that its Q4 results were expected to miss expectations due to weaker-than-expected router demand from global carriers, particularly within the US market. Post Juniper's Q4 update, we reduce our 2011 and 2012 non-GAAP EPS estimates from $1.24 and $1.43 to $1.18 and $1.33 and lower our range to $18-21. While we concede that shares of Juniper appear inexpensive, we remain cautious on the stock given the potential to see muted growth and profitability through 2012."

"With Juniper on track to deliver negative to low-single digit growth through CH1 2012, margins under pressure, and future topline reacceleration at least partially dependent on the ramp of new unproven products, we continue to recommend a cautious approach to Juniper shares."

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 $21.53 yesterday.

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