Juniper Networks Receives New Coverage from Analysts at Credit Suisse (JNPR)
Investment analysts at Credit Suisse began coverage on shares of Juniper Networks (NASDAQ:JNPR) in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $20.00 price target on the stock. Credit Suisse’s price target would suggest a potential downside of 7.66% from the stock’s previous close.
The analysts wrote, “We initiate coverage of Juniper with a Neutral rating and a $20 price target. We see secular concerns for the company offset by a cyclical improvement in core routing and scope for new management to create value. Core routing (25% of Juniper product sales) is at the beginning of multiyear cyclical recovery, driven by rapid mobile data growth, high levels of utilization, and a gradually improving service provider capex environment. We therefore see Juniper sales growing 5.5% this year and 6.5% next year.”
Juniper Networks (NASDAQ:JNPR) traded down 0.60% during mid-day trading on Wednesday, hitting $21.53. 1,991,114 shares of the company’s stock traded hands. Juniper Networks has a 52-week low of $15.62 and a 52-week high of $22.98. The stock has a 50-day moving average of $20.70 and a 200-day moving average of $19.21. The company has a market cap of $10.912 billion and a price-to-earnings ratio of 37.34.
Juniper Networks (NASDAQ:JNPR) last announced its earnings results on Tuesday, July 23rd. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.25 by $0.04. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts expect that Juniper Networks will post $1.20 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on JNPR. Analysts at RBC Capital reiterated a “hold” rating on shares of Juniper Networks (NASDAQ:JNPR) in a research note to investors on Thursday, September 12th. They now have a $24.00 price target on the stock. Separately, analysts at MKM Partners raised their price target on shares of Juniper Networks (NASDAQ:JNPR) from $23.00 to $24.00 in a research note to investors on Thursday, September 12th. They now have a “neutral” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Juniper Networks (NASDAQ:JNPR) in a research note to investors on Thursday, August 22nd. They now have a $21.00 price target on the stock.
Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and seven have assigned a buy rating to the stock. Juniper Networks presently has an average rating of “Hold” and a consensus price target of $20.80.
Juniper Networks, Inc (NASDAQ:JNPR) designs, develops, and sells products and services that together provide its customers with network infrastructure.
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