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In a note dated October 8, Morgan Stanley analyst, James Faucette adjusted his estimates downward on
Juniper Networks, Inc.JNPR for the third and fourth quarter. Faucette currently rates Juniper Equal-weight and does not have a price target set.
The slight downward revision to Faucette's estimates comes amid recent commentary regarding weak spending expectations at
AT&TT for the rest of the year.
Speaking on AT&T's Domain 2.0 strategy, Faucette commented, "While we believe this represents a substantial long term opportunity for Juniper, spending appears to have slowed for the near term and is not expected to resume until early 2015."
Faucette's revisions include: a ~$15 million and ~$20 million reduction in revenue, respectively, for the third and fourth quarters and a $0.01 to $1.48 in his 2014 EPS estimate.
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