UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on Juniper Networks

In a report published Wednesday, BMO Capital Markets reiterated its Market Perform rating on Juniper Networks JNPR, and slightly raised its price target from $15.00 to $16.00. BMO Capital Markets noted, “Juniper delivered a solid beat with revenue, margins, and EPS all better than expected, but guidance was lower. 3Q revenue and EPS of $1.118B/$0.22 was above our/consensus $1.065B/$0.17 estimate. Strength in EMEA, APAC, and US service provider spending help offset weak US enterprise demand. The security business was surprisingly solid but was mostly related to service provider demand, which is lumpy. Switching was also modestly better and routers were roughly in line. The geo and product mix were not what we had expected and going forward we would expect a return to a more typical revenue distribution. Despite the solid results in the quarter, guidance was a letdown. With easy Y/Y compares and 4Q generally its seasonally strongest quarter, guidance assumes only flat Y/Y and Q/Q growth.” Juniper Networks closed on Tuesday at $17.57.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetReiterationAnalyst RatingsBMO Capital Markets
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!