J.P. Morgan Overweight On Juniper Networks

J.P. Morgan Chase & Co. is out with a research report on Juniper Networks

and it has a $40 price target on shares and a Overweight rating. In a note to clients, J.P. Morgan Chase & Co. writes, "Kevin Johnson's cautious comments in early June continue to haunt the Q2 report. We note that both F5 and Riverbed saw weaker EMEA revenues. We also believe that MX 3D routers have been doing particularly well in Europe so this causes us some pause heading into earnings. We continue to like Juniper's chances in Data Center switching in 2012 and look forward to confirmation of planned additional QF/Interconnect and QF/Director components shipping in Q3." Shares of JNPR gained 95 cents on Friday to close at $31.27, a loss of 3.13%.