Juniper Networks Rating Increased to Buy at MKM Partners (JNPR)
Juniper Networks (NASDAQ:JNPR) was upgraded by MKM Partners from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $26.00 price target on the stock, up from their previous price target of $24.00. MKM Partners’ price target would indicate a potential upside of 29.55% from the stock’s previous close.
The analysts wrote, “We are upgrading Juniper Networks to Buy from Neutral in front of 3Q13 earnings scheduled for Tuesday, October 22 after the close. The company’s Service Provider (65% of revenues) results appear poised to meaningfully accelerate driven by renewed growth in the Core Router/Switch market and share gains via newer products like T4000 and PTX. We are raising our 3Q13 estimates to $1.20bn/$0.34 from our prior at-consensus $1.17bn/$0.31 numbers, with our new estimates above the high-end of guidance. The 4Q13 outlook should be solid/strong, and we are increasing our 2013 and 2014 EPS forecasts to $1.25 and $1.48, respectively, from $1.20 and $1.37. We are also increasing our 12-month price target to $26, from $24, still based on 17.5x our 2014 EPS estimate.”
Several other analysts have also recently commented on the stock. Analysts at Cantor Fitzgerald initiated coverage on shares of Juniper Networks in a research note to investors on Thursday, September 19th. They set a “buy” rating and a $26.00 price target on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Juniper Networks in a research note to investors on Wednesday, September 18th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, analysts at RBC Capital reiterated a “hold” rating on shares of Juniper Networks in a research note to investors on Thursday, September 12th. They now have a $24.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the stock. Juniper Networks has a consensus rating of “Hold” and a consensus target price of $20.95.
Juniper Networks (NASDAQ:JNPR) traded up 4.14% on Wednesday, hitting $20.90. The stock had a trading volume of 4,351,880 shares. Juniper Networks has a 52-week low of $15.62 and a 52-week high of $22.98. The stock’s 50-day moving average is $20.37 and its 200-day moving average is $19.2. The company has a market cap of $10.593 billion and a P/E ratio of 34.60.
Juniper Networks (NASDAQ:JNPR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters 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. On average, analysts predict that Juniper Networks will post $1.20 earnings per share for the current fiscal year.
Juniper Networks, Inc (NASDAQ:JNPR) designs, develops, and sells products and services that together provide its customers with network infrastructure.
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