Juniper (JNPR) New Products No Reason for Investors to Get Excited, Say Analysts
Following Juniper Networks (NYSE: JNPR) positive Q3 earnings report and weak guidance, MKM Partners maintained a Neutral rating on the stock with an updated price target of $17.50 (from $16.00).
"Juniper beats 3Q12 on unexpected Security, EMEA and Chinese carrier strength but there is little to suggest that new products will drive better than forecast growth in 2013," said analyst Michael Genovese. He thinks the report suggests that new products are barely replacing lost legacy product sales.
"With weak US Enterprise performance and service provider demand likely to stay sluggish for several more quarters, we see little reason to get excited about the new products," he said.
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 $17.57 yesterday, with a 52 week range of $14.01-$25.61.
"Juniper beats 3Q12 on unexpected Security, EMEA and Chinese carrier strength but there is little to suggest that new products will drive better than forecast growth in 2013," said analyst Michael Genovese. He thinks the report suggests that new products are barely replacing lost legacy product sales.
"With weak US Enterprise performance and service provider demand likely to stay sluggish for several more quarters, we see little reason to get excited about the new products," he said.
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 $17.57 yesterday, with a 52 week range of $14.01-$25.61.