UPDATE: JP Morgan Lowers PT on Juniper Networks

J.P. Morgan reiterates a Neutral rating on Juniper Networks

and decreases the price target from $22 to $19. J.P. Morgan explains, “We had expected Juniper to reduce its target model at this FAM so weren't surprised to see some changes. However, we didn't come away with any new reasons to expect that things won't continue to worsen in 2012 as both the T4000 and PTX ramps push into 2013. We see Juniper's own expectation for just $150m in new product revenues by Q4'13 as confirmation that management also expects slow acceleration of these two key products. Until the PTX and T4000 get going we believe there are better places for investors' capital.” JNPR closed at $16.61 on Tuesday.