Piper Jaffray Upgrades Juniper Networks to Overweight
Piper Jaffray has published a research report on Juniper Networks (NASDAQ: JNPR) and has upgraded its rating from Neutral to Overweight after the company pre-announced negative 4Q results.
In the report, Piper Jaffray writes, "Juniper negatively preannounced Q4 results due to weakness in the Telco vertical. We believe this shortfall was highly anticipated given spending disruptions at AT&T (failed T-Mobile acquisition), a front-end loaded year at Verizon and general macro uncertainty. With 2011 now in the rear-view mirror, we believe 2012 will be a significantly better year for Juniper and the company's stock performance. Juniper is in the early stages of several important product cycles (MobileNext, QFabric, T4000 and PTX), is facing very easy year/year comps that should set the stage for accelerating revenue growth and we believe the stock is attractively valued trading at the lower end of the company's historical range."
Piper Jaffray has also raised the price target from $22 to $25 on Juniper Networks, which closed yesterday at $21.53.
