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In a report published Monday, Jefferies analyst George C. Notter downgraded the rating on JNPR from Buy to Hold, but reiterated the $21.25 price target.
In the report, Jefferies noted, “We think the risk/reward is now balanced given: 1) current expectations that already discount a strong Q2 print; 2) some likelihood that investors are all playing a similar capex rebound thesis on the stock; and 3) valuation. Finally, we're concerned about the efficacy of Juniper's product development organization longer term.”
Juniper Networks closed on Friday at $21.04.
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