UPDATE: Bank of America Upgrades Juniper Networks to Buy rating

According to a research report this morning, Bank of America upgrades its rating on Juniper Networks JNPR from Neutral to Buy while increasing its PO from $24 to $25 as well. Bank of America explained, “While Juniper has lost market share in some areas, we attribute most of its recent EPS pressure to weak carrier spending and timing of product launches. We expect some of investors' concerns to be lifted in 2H, once carriers' spending recovers, especially in North America, where Juniper generates 48% of its routing revenue. Juniper should also benefit from three recent product launches: T4000 core router, MX 3D Edge router with a new 100G line card, and the super-core PTX switch, where we expect to see good traction with carriers and internet companies.” Juniper Networks closed yesterday at $17.57.