Nomura Securities Maintains a 'Neutral' on Juniper Networks (JNPR) 4Q Review

Nomura Securities maintains a 'Neutral' on Juniper Networks (NYSE: JNPR) price target cut from $19.50 to $19.00.

Analyst, Stuart Jeffrey, said, "Juniper Q4 results were in line with the recent negative preannouncement. The detailed results show that the miss in revenues and gross margin was largely due to weak routing revenue trends as well as a decline in the Americas and APAC. Enterprise revenues were robust. Guidance surprised negatively, with the mid-point of Q1 2012 guidance 9% below prior revenue expectations and EPS 47% below. We cut EPS estimates by 28% for 2012 and 9% for 2013 driven by weaker revenues and lower margins. We continue to project a recovery in carrier spending – which is typically cyclical – in 2013, limiting the downside pressure on our 2013 estimates. We still see downside risk to estimates given the weakness seen in recent quarters and the lack of an obvious turnaround catalyst. Our adjusted 2012E EPS goes from $1.27 to $0.91 and 2013E $1.51 to $1.37."

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 $22.37 yesterday.

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