Needham & Company Trimming Estimates on Juniper Networks (JNPR) After Management Resets Outlook

Needham & Company maintains a 'Hold' on Juniper Networks (NYSE: JNPR).

Analyst, Alex Henderson, said, "Despite an upbeat tone to Juniper’s strategy positioning and its new product development story, management reset its long term revenue and margin targets to a lower level. Juniper lowered its revenue growth targets to 9-12% from a much older growth target of 20% plus. In addition, management lowered gross margin target to 63-66% from the prior target of 65-67%."

Henderson cuts FY12 EPS estimate from $0.86 to $0.83 and FY13 from $1.15 to $1.07.

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 $16.61 yesterday.

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