Wedbush Reiterates Neutral Rating, $22 PT for Juniper Networks
In a quick note published earlier today, Wedbush Securities Inc. reiterated its Neutral rating and $22.00 price target for Juniper Networks, Inc. (NYSE: JNPR).
Wedbush went on to say “On June 12, 2012, Juniper held an analyst day, which highlighted a more conservative LT model and a focus on its sales strategy. Management provided details on its financial targets, which we believe was the highlight of the event. We believe the targets in general are realistic, given the environment, but we think questions remain as to the ramp of new products and the level of competition, which could negatively impact even the financial reset. We still think the company lacks a comprehensive product portfolio and must deliver on expectations over and above any positive impact of an improving capex environment in order to become more constructive. We remain on the sidelines until we see signs of sustained execution from our channel contacts and some moderation in the aggressive pricing environment.”
Juniper Networks, Inc. closed yesterday at $16.61.
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