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Juniper Networks Shares Drop More Than 9% Following Earnings, Bank Of America Downgrade

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In a noted released early Wednesday morning, Bank of America analyst Tal Liani downgraded shares of Juniper Networks (NYSE: JNPR) from Buy to Neutral following weak guidance on an otherwise solid second quarter earnings report.

In conjunction with the downgrade, he lowered his price objective from $34 to $28.

Liani noted the company was able to drive a $0.02 EPS beat with a higher gross margin and lower operating expenses. However, he believes there will be a lack of catalysts for the stock moving forward. On this point, he cited the company's weak guidance due to carrier project delays, as well as a two straight quarter declines in high-end security revenues.

Despite having a favorable opinion of management's long-term vision for the company, Liani has concerns surrounding the company's near-term growth potential, including project delays and Cisco's refreshed portfolio.

Latest Ratings for JNPR

DateFirmActionFromTo
Jul 2014BernsteinUpgradesMarket PerformOutperform
Jul 2014Standpoint ResearchInitiates Coverage onBuy
Jul 2014Bank of AmericaDowngradesOutperformNeutral

View More Analyst Ratings for JNPR
View the Latest Analyst Ratings

Posted-In: Bank of America Tal LianiAnalyst Color Downgrades Price Target Analyst Ratings Movers

 

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